Reo@ Voting Report
The SEI Emerging Markets Equity Fund
VOTING RECORDS FROM:01/04/2018 TO: 30/06/2018
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
3SBio Inc.
Meeting Date: 06/20/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 1530
Primary ISIN: KYG8875G1029 Primary SEDOL: BY9D3L9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2a Elect Su Dongmei as Director Mgmt For For
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
2b Elect Liu Dong as Director Mgmt For For
2c Elect David Ross Parkinson as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
2d Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve Final Dividend Mgmt For For
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5A Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
5B Authorize Repurchase of Issued Share Capital Mgmt For For
5C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
AAC Technologies Holdings Inc.
Meeting Date: 05/28/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 2018
Primary ISIN: KYG2953R1149 Primary SEDOL: B85LKS1
Page 1 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
AAC Technologies Holdings Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Koh Boon Hwee as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Moreover, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Finally, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
3b Elect Mok Joe Kuen Richard as Director Mgmt For For
3c Elect Au Siu Cheung Albert as Director Mgmt For For
3d Elect Kwok Lam Kwong Larry as Director Mgmt For For
3e Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Accton Technology Corp.
Meeting Date: 06/13/2018 Country: Taiwan Meeting Type: Annual Ticker: 2345
Primary ISIN: TW0002345006 Primary SEDOL: 6005214
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
Page 2 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Accton Technology Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Amend Articles of Association Mgmt For For
4 Amend Rules and Procedures Regarding Mgmt For For Shareholder's General Meeting
5 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
6.1 Elect Kuo Fai Long, Representative of Kuan Sin Mgmt For For Investment Corp, with Shareholder No. 248318, as Non-independent Director
6.2 Elect Lin Meen Ron, Representative of Kuan Sin Mgmt For For Investment Corp, with Shareholder No. 248318, as Non-independent Director
6.3 Elect Huang Kuo Hsiu with Shareholder No. 712 Mgmt For For as Non-independent Director
6.4 Elect Du Heng Yi, Representative of Ting Sing Mgmt For For Co., Ltd. with Shareholder No. 192084, as Non-independent Director
6.5 Elect Liu Chung Laung with ID No. S124811XXX Mgmt For Against as Independent Director Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
6.6 Elect Chang Chih Ping with ID No. E101545XXX Mgmt For Against as Independent Director Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
6.7 Elect Chen Shuh with ID No. P101989XXX as Mgmt For For Independent Director
6.8 Elect Lin Shiou Ling with ID No. A202924XXX as Mgmt For For Independent Director
6.9 Elect Chen Wei Zen with ID No. R101084XXX as Mgmt For For Independent Director
7 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors and Representatives Voter Rationale: Companies should clearly disclose the business benefits cross directorships will bring, or how conflicts of interest or competition concerns will be managed if these directors engage in business activities with competitors.
Acer Inc.
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 2353
Primary ISIN: TW0002353000 Primary SEDOL: 6005850
Page 3 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Acer Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Approve Cash Distribution from Capital Reserve Mgmt For For
4 Approve Plan for Future Listing of Subsidiaries Mgmt For For and Allow Affiliated Entities to Dispose Their Shareholding in Said Subsidiaries and Waiver to Participate in the Company's Cash Increase Plan
Advanced Ceramic X Corp.
Meeting Date: 06/19/2018 Country: Taiwan Meeting Type: Annual Ticker: 3152
Primary ISIN: TW0003152005 Primary SEDOL: B04S935
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Plan on Profit Distribution Mgmt For For
3 Approve Amendments to Articles of Association Mgmt For For
4 Approve Amendment to Rules and Procedures Mgmt For For for Election of Directors
Agile Group Holdings Ltd.
Meeting Date: 05/14/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 3383
Primary ISIN: KYG011981035 Primary SEDOL: B0PR2F4
Page 4 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Agile Group Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Chen Zhuo Lin as Director Mgmt For For
Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. Furthermore, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders
4 Elect Luk Sin Fong, Fion as Director Mgmt For For
5 Elect Chan Cheuk Nam as Director Mgmt For For
6 Elect Cheng Hon Kwan as Director Mgmt For For
7 Authorize Board to Fix Remuneration of Mgmt For For Directors
8 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
9A Authorize Repurchase of Issued Share Capital Mgmt For For
9B Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Agricultural Bank of China Limited
Meeting Date: 05/11/2018 Country: China Meeting Type: Annual Ticker: 1288
Primary ISIN: CNE100000RJ0 Primary SEDOL: B620Y41
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Work Report of the Board of Mgmt For For Directors
Page 5 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Agricultural Bank of China Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve 2017 Work Report of the Board of Mgmt For For Supervisors
3 Approve 2017 Final Financial Accounts Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP and PricewaterhouseCoopers as External Auditors
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Elect Xiao Xing as Director SH For For
8 Approve Adjustments to the Authorization SH For For Granted to the Board to Make External Donations
9 Elect Hu Xiaohui as Director SH For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Air China Ltd.
Meeting Date: 05/25/2018 Country: China Meeting Type: Annual Ticker: 753
Primary ISIN: CNE1000001S0 Primary SEDOL: B04KNF1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Work Report of the Board of Mgmt For For Directors Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Work Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Audited Consolidated Financial Mgmt For For Statements
4 Approve 2017 Profit Distribution Mgmt For For
Page 6 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Air China Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Deloitte Touche Tohmatsu as the Mgmt For For International Auditor and Deloitte Touche Tohmatsu Certified Public Accountants LLP as the Domestic Auditor and Internal Control Auditor and Authorize Board to Fix Their Remuneration
6 Approve 2018-2019 Aircraft Finance Lease Mgmt For For Service Framework Agreement and Related Transactions
7 Approve Grant of General Mandate to the Board Mgmt For Against to Issue Debt Financing Instruments Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
AirAsia Group Berhad
Meeting Date: 05/14/2018 Country: Malaysia Meeting Type: Special Ticker: AIRASIA
Primary ISIN: MYL5099OO006 Primary SEDOL: B03J9L7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Disposal by AirAsia Group Berhad of its Mgmt For For Aircraft Leasing Operations
AirAsia Group Berhad
Meeting Date: 06/20/2018 Country: Malaysia Meeting Type: Annual Ticker: AIRASIA
Primary ISIN: MYL5099OO006 Primary SEDOL: B03J9L7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Remuneration of Directors from Mgmt For For Financial Year Ending December 31, 2018 until the Next Annual General Meeting
2 Elect Kamarudin Bin Meranun as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. In addition, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
Page 7 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
AirAsia Group Berhad
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Elect Anthony Francis Fernandes as Director Mgmt For For
4 Elect Abdel Aziz @ Abdul Aziz Bin Abu Bakar as Mgmt For Against Director Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
5 Elect Fam Lee Ee as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6 Elect Mohamed Khadar Bin Merican as Director Mgmt For For
7 Elect Stuart L Dean as Director Mgmt For For
8 Elect Noor Neelofa Binti Mohd Noor as Director Mgmt For For
9 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
10 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
11 Approve Implementation of Shareholders' Mgmt For For Mandate for Recurrent Related Party Transactions
AirTAC International Group
Meeting Date: 06/11/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 1590
Primary ISIN: KYG014081064 Primary SEDOL: B52J816
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Consolidated Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
Page 8 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ambev S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: ABEV3
Primary ISIN: BRABEVACNOR1 Primary SEDOL: BG7ZWY7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Furthermore, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Fiscal Council Members and Alternates Mgmt For Do Not Vote
Voter Rationale: A DO NOT VOTE recommendation is warranted for management's fiscal council nominees, to allow minority shareholders to concentrate their votes on the election of a minority fiscal council candidate as further discussed under Item 5 of this meeting agenda.
4 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5 Elect Aldo Luiz Mendes as Fiscal Council SH None For Member and Vinicius Balbino Bouhid as Alternate Appointed by Minority Shareholder
6 Approve Remuneration of Company's Mgmt For For Management
7 Approve Remuneration of Fiscal Council Mgmt For For Members
8 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
Ambev S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Special Ticker: ABEV3
Primary ISIN: BRABEVACNOR1 Primary SEDOL: BG7ZWY7
Page 9 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ambev S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Agreement for Partial Spin-Off of Mgmt For For Arosuco Aromas e Sucos Ltda. and Absorption of Spun-Off Assets
2 Ratify Apsis Consultoria e Avaliacoes Ltda. as Mgmt For For the Independent Firm to Appraise Proposed Transaction
3 Approve Independent Firm's Appraisals Mgmt For For
4 Approve Absorption of Spun-Off Assets Mgmt For For
5 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
6 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
Ambev S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual/Special Ticker: ABEV3
Primary ISIN: BRABEVACNOR1 Primary SEDOL: BG7ZWY7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Ordinary General Meeting Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Furthermore, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3a Elect Fiscal Council Members and Alternates Mgmt For Abstain
Voter Rationale: An ABSTAIN recommendation is warranted for management's fiscal council nominees, to allow minority shareholders to concentrate their votes on the election of a minority fiscal council candidate as further discussed under Item 3.b of this meeting agenda.
3.b Elect Aldo Luiz Mendes as Fiscal Council SH None For Member and Vinicius Balbino Bouhid as Alternate Appointed by Minority Shareholder
Page 10 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ambev S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.1 Approve Remuneration of Company's Mgmt For For Management
4.2 Approve Remuneration of Fiscal Council Mgmt For For Members
Extraordinary General Meeting Mgmt
1 Approve Agreement for Partial Spin-Off of Mgmt For For Arosuco Aromas e Sucos Ltda. and Absorption of Spun-Off Assets
2 Ratify Apsis Consultoria e Avaliacoes Ltda. as Mgmt For For the Independent Firm to Appraise Proposed Transaction
3 Approve Independent Firm's Appraisals Mgmt For For
4 Approve Absorption of Spun-Off Assets Mgmt For For
5 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
America Movil S.A.B. de C.V.
Meeting Date: 04/16/2018 Country: Mexico Meeting Type: Special Ticker: AMX L
Primary ISIN: MXP001691213 Primary SEDOL: 2667470
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Only Series L Shareholders Have Voting Rights Mgmt
1 Elect or Ratify Directors for Series L Mgmt For For Shareholders Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
2 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
America Movil S.A.B. de C.V.
Meeting Date: 04/16/2018 Country: Mexico Meeting Type: Special Ticker: AMX L
Primary ISIN: MXP001691213 Primary SEDOL: 2667470
Page 11 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
America Movil S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders of Series L Shares Mgmt
1 Elect or Ratify Directors for Series L Mgmt For For Shareholders Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
2 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Anadolu Efes Biracilik ve Malt Sanayii A.S.
Meeting Date: 04/16/2018 Country: Turkey Meeting Type: Annual Ticker: AEFES
Primary ISIN: TRAAEFES91A9 Primary SEDOL: B03MNV4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Accept Board Report Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
3 Accept Audit Report Mgmt For For
4 Accept Financial Statements Mgmt For For
5 Approve Discharge of Board Mgmt For For
6 Approve Allocation of Income Mgmt For For
7 Elect Directors and Approve Their Remuneration Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
8 Ratify External Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
9 Receive Information on Donations Made in 2017 Mgmt
Page 12 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Anadolu Efes Biracilik ve Malt Sanayii A.S.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Receive Information on Guarantees, Pledges Mgmt and Mortgages Provided by the Company to Third Parties
11 Receive Information in Accordance to Article Mgmt 1.3.6 of Capital Market Board Corporate Governance Principles
12 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
13 Wishes Mgmt
Angang Steel Company Limited
Meeting Date: 06/05/2018 Country: China Meeting Type: Annual Ticker: 347
Primary ISIN: CNE1000001V4 Primary SEDOL: 6015644
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
2 Approve 2017 Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Annual Report and Its Extracts Mgmt For For
4 Approve 2017 Auditors' Report Mgmt For For
5 Approve 2017 Profit Distribution Plan Mgmt For For
6 Approve 2017 Remuneration of Directors and Mgmt For For Supervisors
7 Amend Articles of Association Mgmt For For
8 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9 Approve ShineWing Certified Public Accountants SH For For as Auditors and Authorize Board to Fix Their Remuneration
10 Approve Resignation of Luo Yucheng as Director SH For For
Page 13 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Angang Steel Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11 Elect Feng Changli as Director SH For For
12 Approve Issuance of Short-term Financial Bill of SH For For the Company in the Inter-Bank Bond Market
13 Approve Issuance of Ultra Short-term Financial SH For For Bill of the Company in the Inter-Bank Bond Market
Anglo American plc
Meeting Date: 05/08/2018 Country: United Kingdom Meeting Type: Annual Ticker: AAL
Primary ISIN: GB00B1XZS820 Primary SEDOL: B1XZS82
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Stuart Chambers as Director Mgmt For For
4 Elect Ian Ashby as Director Mgmt For For
5 Re-elect Mark Cutifani as Director Mgmt For For
6 Re-elect Nolitha Fakude as Director Mgmt For For
7 Re-elect Byron Grote as Director Mgmt For For
8 Re-elect Sir Philip Hampton as Director Mgmt For For
9 Re-elect Tony O'Neill as Director Mgmt For For
10 Re-elect Stephen Pearce as Director Mgmt For For
11 Re-elect Mphu Ramatlapeng as Director Mgmt For For
12 Re-elect Jim Rutherford as Director Mgmt For For
13 Re-elect Anne Stevens as Director Mgmt For For
14 Re-elect Jack Thompson as Director Mgmt For For
15 Reappoint Deloitte LLP as Auditors Mgmt For For
16 Authorise Board to Fix Remuneration of Auditors Mgmt For For
17 Approve Remuneration Report Mgmt For For
Page 14 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Anglo American plc
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
18 Approve Sharesave Plan Mgmt For For
19 Approve Share Incentive Plan Mgmt For For
20 Authorise Issue of Equity with Pre-emptive Mgmt For For Rights
21 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights
22 Authorise Market Purchase of Ordinary Shares Mgmt For For
23 Authorise Repurchase of Unlisted Cumulative Mgmt For For Preference Shares
24 Adopt New Articles of Association Mgmt For For
25 Authorise the Company to Call General Meeting Mgmt For For with Two Weeks' Notice
AngloGold Ashanti Ltd
Meeting Date: 05/16/2018 Country: South Africa Meeting Type: Annual Ticker: ANG
Primary ISIN: ZAE000043485 Primary SEDOL: 6565655
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1.1 Re-elect Albert Garner as Director Mgmt For For
1.2 Re-elect Nozipho January-Bardill as Director Mgmt For For
1.3 Re-elect Rhidwaan Gasant as Director Mgmt For For
1.4 Re-elect Christine Ramon as Director Mgmt For For
2.1 Re-elect Rhidwaan Gasant as Member of the Mgmt For For Audit and Risk Committee
2.2 Re-elect Michael Kirkwood as Member of the Mgmt For For Audit and Risk Committee
2.3 Re-elect Rodney Ruston as Member of the Audit Mgmt For For and Risk Committee
2.4 Re-elect Maria Richter as Member of the Audit Mgmt For For and Risk Committee
2.5 Re-elect Sindi Zilwa as Member of the Audit and Mgmt For For Risk Committee
Page 15 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
AngloGold Ashanti Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Reappoint Ernst & Young Inc as Auditors of the Mgmt For For Company with Ernest Botha as the Lead Audit Partner Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
4 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
5.1 Approve Remuneration Policy Mgmt For For
5.2 Approve Remuneration Implementation Report Mgmt For For
6 Approve Remuneration of Non-executive Mgmt For For Directors
7 Authorise Repurchase of Issued Share Capital Mgmt For For
8 Authorise Board to Issue Shares for Cash Mgmt For For
9 Approve Financial Assistance in Terms of Mgmt For For Sections 44 and 45 of the Companies Act
10 Authorise Ratification of Approved Resolutions Mgmt For For
Anhui Conch Cement Company Ltd
Meeting Date: 05/30/2018 Country: China Meeting Type: Annual Ticker: 914
Primary ISIN: CNE0000019V8 Primary SEDOL: 6441595
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 Audited Financial Reports Mgmt For For Prepared Under the PRC Accounting Standards and International Financial Reporting Standards Respectively Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
Page 16 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Anhui Conch Cement Company Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve KPMG Huazhen LLP as PRC and Mgmt For For Internal Control Auditor, KPMG as International Financial Auditor and Authorize Board to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 Approve 2017 Profit Appropriation Proposal and Mgmt For For Declaration of Final Dividend
6 Approve Provision of Guarantee to Subsidiaries Mgmt For For and Joint Venture Entities
7 Amend Articles of Association Regarding Party Mgmt For Against Committee Voter Rationale: A vote against is warranted because the proposed articles amendments are not considered to adequately provide for accountability and transparency to shareholders.
8 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Anta Sports Products Ltd.
Meeting Date: 04/10/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 2020
Primary ISIN: KYG040111059 Primary SEDOL: B1YVKN8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Approve Special Dividend Mgmt For For
4 Elect Ding Shijia as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
5 Elect Lai Shixian as Director Mgmt For For
6 Elect Yeung Chi Tat as Director Mgmt For For
7 Authorize Board to Fix Remuneration of Mgmt For For Directors
Page 17 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Anta Sports Products Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Approve KPMG as Auditor and Authorize Board Mgmt For For to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
9 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
10 Authorize Repurchase of Issued Share Capital Mgmt For For
11 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Arcelik A.S.
Meeting Date: 06/26/2018 Country: Turkey Meeting Type: Special Ticker: ARCLK
Primary ISIN: TRAARCLK91H5 Primary SEDOL: B03MP18
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Special Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Receive Information on Partial Demerger to be Mgmt Discussed Under Item 4
3 Receive Information on Absence of Right of Mgmt Withdrawal
4 Approve Spin-Off Agreement and Related Mgmt For For Formalities
5 Wishes Mgmt
Arcos Dorados Holdings Inc.
Meeting Date: 04/24/2018 Country: Virgin Isl (UK) Meeting Type: Annual Ticker: ARCO
Primary ISIN: VGG0457F1071 Primary SEDOL: B529PQ0
Page 18 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Arcos Dorados Holdings Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve E&Y (Pistrelli, Henry Martin y Asociados Mgmt For For S.R.L., member firm of Ernst & Young Global) as Auditors and Authorize Board to Fix Their Remuneration
3.1 Elect Director Woods Staton Mgmt For For
Voter Rationale: Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Also, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate. In addition, we oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among shareholders
3.2 Elect Director Ricardo Gutierrez Mgmt For Withhold
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time. In addition, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.
3.3 Elect Director Sergio Alonso Mgmt For For
Voter Rationale: Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. In addition, we oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among shareholders
3.4 Elect Director Francisco Staton Mgmt For For
Voter Rationale: Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.
Ase Industrial Holdings Co
Meeting Date: 06/21/2018 Country: Taiwan Meeting Type: Special Ticker: 3711
Primary ISIN: TW0003711008 Primary SEDOL: BFXZDY1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Cash Distribution from Capital Reserve Mgmt For For
Page 19 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ase Industrial Holdings Co
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Amendments to Articles of Association Mgmt For For
3 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors to Rules and Rename It To Procedures for Election of Directors
4 Approve Amendments to Procedures Governing Mgmt For For the Acquisition or Disposal of Assets
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
5.1 Elect Shen-Fu Yu, with SHAREHOLDER Mgmt For For NO.H101915XXX as Independent Director
5.2 Elect Ta-Lin Hsu, with SHAREHOLDER Mgmt For For NO.1943040XXX as Independent Director
5.3 Elect Mei-Yueh Ho, with SHAREHOLDER Mgmt For For NO.Q200495XXX as Independent Director
5.4 Elect Non-independent Director No. 1 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.5 Elect Non-independent Director No. 2 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.6 Elect Non-independent Director No. 3 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.7 Elect Non-independent Director No. 4 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.8 Elect Non-independent Director No. 5 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.9 Elect Non-independent Director No. 6 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.10 Elect Non-independent Director No. 7 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.11 Elect Non-independent Director No. 8 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 20 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ase Industrial Holdings Co
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.12 Elect Non-independent Director No. 9 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.13 Elect Non-independent Director No. 10 SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Newly Appointed Directors
Voter Rationale: Companies should clearly disclose the business benefits cross directorships will bring, or how conflicts of interest or competition concerns will be managed if these directors engage in business activities with competitors.
Aselsan Elektronik Sanayi ve Ticaret AS
Meeting Date: 04/02/2018 Country: Turkey Meeting Type: Annual Ticker: ASELS
Primary ISIN: TRAASELS91H2 Primary SEDOL: B03MP41
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Accept Board Report Mgmt For For
3 Accept Audit Report Mgmt For For
4 Accept Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities
5 Approve Discharge of Board Mgmt For For
6 Approve Allocation of Income Mgmt For For
7 Elect Directors Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Approve Director Remuneration Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
9 Ratify External Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
Page 21 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Aselsan Elektronik Sanayi ve Ticaret AS
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Receive Information on Guarantees, Pledges Mgmt and Mortgages Provided by the Company to the Third Parties
11 Receive Information on Related Party Mgmt Transactions
12 Approve Upper Limit of Donations for 2018 Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
13 Approve Upper Limit of Sponsorships to Be Mgmt For Against Made in 2018 Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
14 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
15 Increase Authorized Share Capital Mgmt For Against
Voter Rationale: Any increase in capital greater than 50% of the issued share capital with pre-emptive rights should be undertaken in exceptional circumstances only and fully justified by the company.
16 Authorize Share Capital Increase with Mgmt For Against Preemptive Rights Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
17 Wishes Mgmt
ASM Pacific Technology Ltd.
Meeting Date: 05/08/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 522
Primary ISIN: KYG0535Q1331 Primary SEDOL: 6002453
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
4 Authorize Repurchase of Issued Share Capital Mgmt For For
Page 22 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
ASM Pacific Technology Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
6 Authorize Reissuance of Repurchased Shares Mgmt For For
7 Elect Lok Kam Chong, John as Director Mgmt For For
8 Authorize Board to Fix the Remuneration of the Mgmt For For Directors
ASUSTeK Computer Inc.
Meeting Date: 06/12/2018 Country: Taiwan Meeting Type: Annual Ticker: 2357
Primary ISIN: TW0002357001 Primary SEDOL: 6051046
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
Atacadao S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: CRFB3
Primary ISIN: BRCRFBACNOR2 Primary SEDOL: BF7LBH4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Fix Number of Directors at Ten Mgmt For For
4 Approve Characterization of Marcelo Pavao Mgmt For For Lacerda and Luiz Fernando Vendramini Fleury as Independent Directors
Page 23 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Atacadao S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Elect Directors Mgmt For Against
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
6 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 7, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
8.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Matthieu Dominique Marie Malige as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Franck Emile Tassan as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Jacques Dominique Ehrmann as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Francis Andre Mauger as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.5 Percentage of Votes to Be Assigned - Elect Noel Mgmt None Abstain Frederic Georges Prioux as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Frederic Francois Haffner as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Eduardo Pongracz Rossi as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 24 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Atacadao S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Abilio dos Santos Diniz as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.9 Percentage of Votes to Be Assigned - Elect Luiz Mgmt None Abstain Fernando Vendramini Fleury as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.10 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marcelo Pavao Lacerda as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 Approve Remuneration of Company's Mgmt For For Management
10 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
12 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
Atacadao S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Special Ticker: CRFB3
Primary ISIN: BRCRFBACNOR2 Primary SEDOL: BF7LBH4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Article 5 to Reflect Changes in Capital Mgmt For For and Consolidate Bylaws
2 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
Page 25 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
AU Optronics Corp
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 2409
Primary ISIN: TW0002409000 Primary SEDOL: 6288190
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Approve Issuance of Ordinary Shares or Mgmt For Against Issuance of Ordinary Shares to Participate in the Issuance of Global Depository Receipt or Issuance of Foreign or Domestic Convertible Bonds
Voter Rationale: Any issuance of shares at a significant discount to the market price should be approved by shareholders prior to such issuance and not as a part of routine share issuance authorities.
4 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
Axis Bank Ltd.
Meeting Date: 06/20/2018 Country: India Meeting Type: Annual Ticker: 532215
Primary ISIN: INE238A01034 Primary SEDOL: BPFJHC7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Reelect Rajiv Anand as Director Mgmt For For
3 Reelect Rajesh Dahiya as Director Mgmt For For
4 Approve Haribhakti & Co. LLP, Chartered Mgmt For Against Accountants, Mumbai as Auditors and Authorize Board to Fix Their Remuneration Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
5 Elect Stephen Pagliuca as Director Mgmt For For
6 Approve Remuneration of Sanjiv Misra as Mgmt For For Non-Executive Chairman
Page 26 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Axis Bank Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Approve Reappointment and Remuneration of Mgmt For For Shikha Sharma as Managing Director& CEO
8 Approve Revision in the Remuneration of V. Mgmt For For Srinivasan as Deputy Managing Director
9 Approve Revision in the Remuneration of Rajiv Mgmt For For Anand as Executive Director (Retail Banking)
10 Approve Revision in the Remuneration of Rajesh Mgmt For For Dahiya as Executive Director (Corporate Centre)
11 Approve Increase in Borrowing Powers Mgmt For For
12 Approve Issuance of Debt Securities on Private Mgmt For For Placement Basis
Ayala Corporation
Meeting Date: 04/20/2018 Country: Philippines Meeting Type: Annual Ticker: AC
Primary ISIN: PHY0486V1154 Primary SEDOL: B09JBT3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Approve Annual Report Mgmt For For
Elect 7 Directors by Cumulative Voting Mgmt
3.1 Elect Jaime Augusto Zobel de Ayala as Director Mgmt For For
Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. Furthermore, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.2 Elect Fernando Zobel de Ayala as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.3 Elect Delfin L. Lazaro as Director Mgmt For Against
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 27 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ayala Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.4 Elect Keiichi Matsunaga as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Likewise, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.5 Elect Ramon R. del Rosario, Jr. as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.6 Elect Xavier P. Loinaz as Director Mgmt For For
3.7 Elect Antonio Jose U. Periquet as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
4 Elect SyCip Gorres Velayo & Co. as Independent Mgmt For For Auditor and Fix Its Remuneration
5 Approve Other Matters Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Azul S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual/Special Ticker: AZUL4
Primary ISIN: BRAZULACNPR4 Primary SEDOL: BD97PR4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Ordinary Shareholders' Meeting Mgmt
1 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Extraordinary Shareholders' Meeting Mgmt
1 Approve Commercial Partnership Contracts Mgmt For Against Between the Company and Aigle Azur SAS Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 28 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
B2W Companhia Digital
Meeting Date: 04/30/2018 Country: Brazil Meeting Type: Annual Ticker: BTOW3
Primary ISIN: BRBTOWACNOR8 Primary SEDOL: B1LH3Y1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
3 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
B2W Companhia Digital
Meeting Date: 04/30/2018 Country: Brazil Meeting Type: Special Ticker: BTOW3
Primary ISIN: BRBTOWACNOR8 Primary SEDOL: B1LH3Y1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles Mgmt For For
2 Consolidate Bylaws Mgmt For For
3 Approve Incentive Plan with Restricted Shares Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
4 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
B3 S.A.-Brasil Bolsa Balcao
Meeting Date: 04/23/2018 Country: Brazil Meeting Type: Annual Ticker: B3SA3
Primary ISIN: BRB3SAACNOR6 Primary SEDOL: BG36ZK1
Page 29 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
B3 S.A.-Brasil Bolsa Balcao
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Approve Remuneration of Company's Mgmt For For Management
4 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
B3 S.A.-Brasil Bolsa Balcao
Meeting Date: 05/04/2018 Country: Brazil Meeting Type: Special Ticker: B3SA3
Primary ISIN: BRB3SAACNOR6 Primary SEDOL: BG36ZK1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.A Amend Articles Re: Novo Mercado Mgmt For For
1.B Amend Articles Re: Management Mgmt For For
1.C Amend Articles Re: Administrative Structure Mgmt For For
1.D Amend Articles Re: Delete Replicated Content Mgmt For For
1.E Amend Articles Mgmt For For
2 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
BAIC Motor Corporation Ltd
Meeting Date: 04/16/2018 Country: China Meeting Type: Special Ticker: 1958
Primary ISIN: CNE100001TJ4 Primary SEDOL: BTF8BT7
Page 30 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
BAIC Motor Corporation Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Asset Transfer Agreement and Related Mgmt For For Transactions
Banco do Brasil S.A.
Meeting Date: 04/25/2018 Country: Brazil Meeting Type: Annual Ticker: BBAS3
Primary ISIN: BRBBASACNOR3 Primary SEDOL: 2328595
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Elect Luis Otavio Saliba Furtado as Director Mgmt For For
4 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes for Each Supported Nominee? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 4, Votes Will Be Automatically Distributed in Equal % Amongst Candidates You Chose. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
5 Percentage of Votes to Be Assigned - Elect Luis Mgmt None Abstain Otavio Saliba Furtado as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Approve Remuneration of Fiscal Council Mgmt For For Members
7 Approve Remuneration of Company's Mgmt For For Management
8 Approve Remuneration of Audit Committee Mgmt For Against Members Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 31 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Banco do Brasil S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Banco do Brasil S.A.
Meeting Date: 04/25/2018 Country: Brazil Meeting Type: Special Ticker: BBAS3
Primary ISIN: BRBBASACNOR3 Primary SEDOL: 2328595
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles Mgmt For For
2 Approve Share Matching Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
3 Approve Usage of Treasury Shares in any Mgmt For Against Transactions Stated in Article 10 of the Bylaws
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Banco Estado Do Rio Grande Do Sul SA
Meeting Date: 04/09/2018 Country: Brazil Meeting Type: Special Ticker: BRSR6
Primary ISIN: BRBRSRACNPB4 Primary SEDOL: B23F8S9
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Banco Estado Do Rio Grande Do Sul SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Adriano Cives Seabra as Director SH None For Appointed by Preferred Shareholder
2 In Case Neither Class of Shares Reaches the Mgmt None For Minimum Quorum Required by the Brazilian Corporate Law to Elect a Board Representative in Separate Elections, Would You Like to Use Your Votes to Elect the Candidate with More Votes to Represent Both Classes?
Banco Estado Do Rio Grande Do Sul SA
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: BRSR6
Primary ISIN: BRBRSRACNPB4 Primary SEDOL: B23F8S9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Massao Fabio Oya as Fiscal Council SH None For Member and Maria Elvira Lopes Gimenez as Alternate Appointed by Preferred Shareholder
Banco Santander (Brasil) S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: SANB4
Primary ISIN: BRSANBACNPR5 Primary SEDOL: 2835578
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Banco Santander (Brasil) S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480
4 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law? Voter Rationale: A vote FOR this item is warranted because the installation of a fiscal council could potentially improve the company's governance and bring greater corporate oversight.
Banco Santander (Brasil) S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: SANB4
Primary ISIN: BRSANBACNPR5 Primary SEDOL: 2835578
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
a Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
b Approve Allocation of Income and Dividends Mgmt For For
c Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480
Banco Santander (Mexico) SA, Institucion de Banca Multiple, Grupo
Meeting Date: 04/30/2018 Country: Mexico Meeting Type: Annual/Special Ticker: BSMX B
Primary ISIN: MX41BS060005 Primary SEDOL: BF1FXN2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Special Shareholders' Meeting Mgmt
Page 34 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Banco Santander (Mexico) SA, Institucion de Banca Multiple, Grupo
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect or Ratify Directors and Commissioners Mgmt For For Representing Series B Shareholders Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
2 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Ordinary and Extraordinary Shareholders' Mgmt Meeting
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For For
3 Receive Executive Chairman and CEO's Reports Mgmt For For
4 Receive Report on Board's Opinion on Executive Mgmt For For Chairman and CEO's Reports
5 Receive Board's Report on Principal Policies and Mgmt For For Accounting and Information Criteria
6 Receive Report on Adherence to Fiscal Mgmt For For Obligations
7 Receive Report on Activities and Operations Mgmt For For Undertaken by Board
8 Receive Report on Activities of Audit, Corporate Mgmt For For Practices, Nominations and Compensations Committees
9 Elect and Ratify Directors and Their Alternates Mgmt For For Representatives of Series F and B Shareholders; Fix Their Remuneration Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
10 Approve Cash Dividends Mgmt For For
11 Amend Articles Mgmt For For
12 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Banco Santander Chile
Meeting Date: 04/24/2018 Country: Chile Meeting Type: Annual Ticker: BSANTANDER
Primary ISIN: CLP1506A1070 Primary SEDOL: 2000257
Page 35 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Banco Santander Chile
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Consolidated Financial Statements and Mgmt For For Statutory Reports Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends of Mgmt For For CLP 2.25 Per Share
3 Ratify Claudio Melandri Hinojosa, Felix De Mgmt For For Vicente Mingo and Alfonso Gomez Morales as Directors to Replace Vittorio Corbo Lioi, Roberto Zahler Mayanz and Roberto Mendez Torres
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
4 Approve Remuneration of Directors Mgmt For For
5 Appoint Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Designate Risk Assessment Companies Mgmt For For
7 Approve Remuneration and Budget of Directors' Mgmt For For Committee and Audit Committee; Receive Directors and Audit Committee's Report
8 Receive Report Regarding Related-Party Mgmt Transactions
9 Other Business Mgmt
Bangkok Bank Public Co. Ltd
Meeting Date: 04/12/2018 Country: Thailand Meeting Type: Annual Ticker: BBL
Primary ISIN: TH0001010006 Primary SEDOL: 6077008
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Operating Results Mgmt
3 Acknowledge Audit Committee Report Mgmt
4 Approve Financial Statements Mgmt For For
Page 36 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Bangkok Bank Public Co. Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Allocation of Income and Dividend Mgmt For For Payment
6.1 Elect Deja Tulananda as Director Mgmt For For
6.2 Elect Kovit Poshyananda as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
6.3 Elect Amorn Chandarasomboon as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
6.4 Elect Mongkolchaleam Yugala as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6.5 Elect Suvarn Thansathit as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
6.6 Elect Chansak Fuangfu as Director Mgmt For For
7 Acknowledge Remuneration of Directors Mgmt
8 Approve Deloitte Touche Tohmatsu Jaiyos Audit Mgmt For For Co., Ltd. as Auditors and Authorize Board to Fix Their Remuneration
9 Amend Articles of Association Mgmt For For
10 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Bank of China Limited
Meeting Date: 06/28/2018 Country: China Meeting Type: Annual Ticker: 3988
Primary ISIN: CNE1000001Z5 Primary SEDOL: B154564
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Bank of China Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Work Report of Board of Directors Mgmt For For
2 Approve 2017 Work Report of Board of Mgmt For For Supervisors
3 Approve 2017 Annual Financial Report Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve 2018 Annual Budget for Fixed Assets Mgmt For For Investment
6 Approve Ernst & Young Hua Ming as External Mgmt For Against Auditor Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Elect Zhang Qingsong as Director Mgmt For For
8 Elect Li Jucai as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
9 Elect Chen Yuhua as Supervisor Mgmt For For
10 Approve 2016 Remuneration Distribution Plan of Mgmt For For Directors
11 Approve 2016 Remuneration Distribution Plan of Mgmt For For Supervisors
12 Approve Capital Management Plan for the Years Mgmt For For 2017-2020
13 Approve Adjusting the Authorization of Mgmt For For Outbound Donations
14 Approve Issuance of Bonds Mgmt For For
15 Approve Issuance of Qualified Write-down Tier Mgmt For For 2 Capital Instruments
16 Approve Issuance of Write-down Undated Mgmt For For Capital Bonds
17 Elect Liao Qiang as Director SH None For
Barclays Africa Group Ltd
Meeting Date: 05/15/2018 Country: South Africa Meeting Type: Annual Ticker: BGA
Primary ISIN: ZAE000174124 Primary SEDOL: B844WD0
Page 38 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Barclays Africa Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1.1 Reappoint Ernst & Young Inc. as Auditors of the Mgmt For For Company with Ernest van Rooyen as the Designated Auditor
1.2 Reappoint KPMG Inc. as Auditors of the Mgmt For Abstain Company with Pierre Fourie as the Designated Auditor Voter Rationale: An ABSTAIN is warranted on this resolution because it has been withdrawn by the Board.
2.1 Re-elect Colin Beggs as Director Mgmt For For
2.2 Re-elect Yolanda Cuba as Director Mgmt For For
2.3 Re-elect Mohamed Husain as Director Mgmt For For
2.4 Re-elect Wendy Lucas-Bull as Director Mgmt For For
2.5 Re-elect Mark Merson as Director Mgmt For For
2.6 Re-elect Maria Ramos as Director Mgmt For For
3.1 Elect Daniel Hodge as Director Mgmt For For
3.2 Elect Monwabisi Fandeso as Director Mgmt For For
3.3 Elect Tasneem Abdool-Samad as Director Mgmt For For
4.1 Re-elect Alex Darko as Member of the Group Mgmt For For Audit and Compliance Committee
4.2 Re-elect Colin Beggs as Member of the Group Mgmt For For Audit and Compliance Committee
4.3 Re-elect Mohamed Husain as Member of the Mgmt For For Group Audit and Compliance Committee
4.4 Re-elect Daisy Naidoo as Member of the Group Mgmt For For Audit and Compliance Committee
4.5 Re-elect Paul O'Flaherty as Member of the Mgmt For For Group Audit and Compliance Committee
4.6 Re-elect Rene van Wyk as Member of the Group Mgmt For For Audit and Compliance Committee
4.7 Elect Tasneem Abdool-Samad as Member of the Mgmt For For Group Audit and Compliance Committee
5 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
6 Approve Maximum Numbers of Shares Allocated Mgmt For For under the Long-Term Incentive Plans
Non-binding Advisory Vote Mgmt
1 Approve Remuneration Policy Mgmt For For
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Barclays Africa Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Remuneration Implementation Report Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over time. Additionally, all exceptional awards should be clearly linked to performance and demonstrate shareholder value creation in addition to and above that expected of directors as a normal part of their jobs.
Special Resolutions Mgmt
1 Amend Memorandum of Incorporation Mgmt For For
2 Approve Change of Company Name to Absa Mgmt For For Group Limited
3 Approve Remuneration of Non-Executive Mgmt For For Directors
4 Authorise Repurchase of Issued Share Capital Mgmt For For
5 Approve Financial Assistance in Terms of Mgmt For For Section 45 of the Companies Act
BB Seguridade Participacoes S.A.
Meeting Date: 04/20/2018 Country: Brazil Meeting Type: Annual Ticker: BBSE3
Primary ISIN: BRBBSEACNOR5 Primary SEDOL: B9N3SQ0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3.1 Elect Lucineia Possar as Fiscal Council Member Mgmt For For and Respective Alternate
3.2 Elect Leandro Puccini Secunho as Fiscal Council Mgmt For Against Member and Rafael Rezende Brigolini as Alternate Appointed by Finance Ministry Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
3.3 Elect Giorgio Bampi as Fiscal Council Member SH None Against and Paulo Roberto Franceschi as Alternate Appointed by Minority Shareholder Voter Rationale: Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
BB Seguridade Participacoes S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.1 Elect Arnaldo Jose Vollet as Independent Mgmt For For Director
4.2 Elect Adalberto Santos de Vasconcelos as Mgmt For Against Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes for Each Supported Nominee? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 5, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
6.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Arnaldo Jose Vollet as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Adalberto Santos de Vasconcelos as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 Approve Remuneration of Fiscal Council Mgmt For For Members
10 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
11 Approve Remuneration of Audit Committee Mgmt For For Members
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
BDO Unibank Inc.
Meeting Date: 04/20/2018 Country: Philippines Meeting Type: Annual Ticker: BDO
Primary ISIN: PHY077751022 Primary SEDOL: B5VJH76
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Call to Order Mgmt For For
2 Proof of Notice and Determination of Existence Mgmt For For of Quorum
3 Approve Minutes of the Previous Annual Mgmt For For Shareholders' Meeting Held on April 20, 2017
4 Approve Report of the President and Audited Mgmt For For Financial Statements as of December 31, 2017
5 Open Forum Mgmt For For
6 Approve and Ratify All Acts of the Board of Mgmt For For Directors, Board Committees, and Management During Their Term of Office
Elect 11 Directors by Cumulative Voting Mgmt
7.1 Elect Teresita T. Sy as Director Mgmt For Against
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board; support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
7.2 Elect Jesus A. Jacinto, Jr. as Director Mgmt For For
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
7.3 Elect Nestor V. Tan as Director Mgmt For For
7.4 Elect Christopher A. Bell-Knight as Director Mgmt For For
7.5 Elect Antonio C. Pacis as Director Mgmt For For
7.6 Elect Josefina N. Tan as Director Mgmt For Against
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
7.7 Elect Jose F. Buenaventura as Director Mgmt For For
7.8 Elect Jones M. Castro, Jr. as Director Mgmt For For
7.9 Elect Dioscoro I. Ramos as Director Mgmt For For
7.10 Elect Jimmy T. Tang as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 42 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
BDO Unibank Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.11 Elect Gilberto C. Teodoro, Jr. as Director Mgmt For For
8 Appoint External Auditor Mgmt For For
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
9 Approve Other Matters Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
10 Adjournment Mgmt For For
Beauty Community Public Company Limited
Meeting Date: 04/25/2018 Country: Thailand Meeting Type: Annual Ticker: BEAUTY
Primary ISIN: TH4100010Z04 Primary SEDOL: BXQ1KK7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Operating Results for 2017 and Mgmt For For Operational Plan for 2018
3 Approve Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividend Mgmt For For Payment
5.1 Approve Monthly Salary of Directors Mgmt For For
5.2 Approve Meeting Allowance of Directors Mgmt For For
5.3 Approve Bonus Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
6 Approve DIA International Audit Company Mgmt For For Limited as Auditors and Authorize Board to Fix Their Remuneration
7.1 Elect Padet Charuchinda as Director Mgmt For For
7.2 Elect Attapon Srisangwarn as Director Mgmt For For
7.3 Elect Tanyapon Kraibhubes as Director Mgmt For For
Page 43 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Beauty Community Public Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Approve Issuance of ESOP Warrant-1 to Mgmt For Against Employees Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. In addition, options should be issued at no less than market price, except for an all-employee plan where the discount should not exceed 20% on a fixed date.
9 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Beijing Capital International Airport Co., Ltd.
Meeting Date: 06/28/2018 Country: China Meeting Type: Annual Ticker: 694
Primary ISIN: CNE100000221 Primary SEDOL: 6208422
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 Audited Financial Statements and Mgmt For For Independent Auditor's Report Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2017 Profit Appropriation Proposal Mgmt For For
5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as PRC Auditors and PricewaterhouseCoopers as International Auditors and Authorize Board to Fix Their Remuneration
Beijing Enterprises Holdings Ltd.
Meeting Date: 06/12/2018 Country: Hong Kong Meeting Type: Annual Ticker: 392
Primary ISIN: HK0392044647 Primary SEDOL: 6081690
Page 44 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Beijing Enterprises Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Hou Zibo as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Moreover, the roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3.2 Elect Zhao Xiaodong as Director Mgmt For For
3.3 Elect Tam Chun Fai as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.4 Elect Wu Jiesi as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.5 Elect Sze Chi Ching as Director Mgmt For For
3.6 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Beijing Enterprises Water Group Ltd.
Meeting Date: 06/01/2018 Country: Bermuda Meeting Type: Annual Ticker: 371
Primary ISIN: BMG0957L1090 Primary SEDOL: B01YCG0
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Beijing Enterprises Water Group Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Li Yongcheng as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3.2 Elect E Meng as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time. Moreover, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3.3 Elect Li Haifeng as Director Mgmt For For
3.4 Elect Tung Woon Cheung Eric as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.5 Elect Guo Rui as Director Mgmt For For
3.6 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
BK Brasil Operacao e Assessoria a Restaurantes S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Special Ticker: BKBR3
Primary ISIN: BRBKBRACNOR4 Primary SEDOL: BFB3ZZ2
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
BK Brasil Operacao e Assessoria a Restaurantes S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Use of Reserves for Treatment of Net Mgmt For For Losses
2 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
BK Brasil Operacao e Assessoria a Restaurantes S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: BKBR3
Primary ISIN: BRBKBRACNOR4 Primary SEDOL: BFB3ZZ2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
BRF SA
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Annual/Special Ticker: BRFS3
Primary ISIN: BRBRFSACNOR8 Primary SEDOL: 2036995
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Mgmt
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
BRF SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
3.1 Elect Attilio Guaspari as Fiscal Council Member Mgmt For For and Susana Hanna Stiphan Jabra as Alternate
3.2 Elect Marcus Vinicius Dias Severini as Fiscal Mgmt For For Council Member and Marcos Tadeu de Siqueira as Alternate
3.3 Elect Andre Vicentini as Fiscal Council Member Mgmt For For and Valdecyr Maciel Gomes as Alternate
4 Approve Remuneration of Fiscal Council Mgmt For For Members
Special Meeting Mgmt
1 Dismiss Board of Directors SH None For
2 Fix Number of Directors at Ten SH None For
Shareholders Must Only Vote FOR One of the Mgmt Slates Presented Under Items 3A1 - 3B3
3A1 Elect Directors Appointed by Management Mgmt For For
Voter Rationale: Support FOR Item 3A1 is warranted because the proposed management slate brings relevant changes to BRF's board composition, including a diverse mix of new and incumbent directors, a new chairman, as well as a significant overlap with the dissident slate. As such, the proposed management slate appears to provide an adequate response to address the concerns raised by shareholders regarding the company's performance and its corporate governance.Therefore, a vote AGAINST the dissident slate presented under Item 3B1 is recommended.
3A2 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate?
3A3 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate?
3B1 Elect Directors Appointed by Dissident SH None Against Shareholders Voter Rationale: Support FOR Item 3A1 is warranted because the proposed management slate brings relevant changes to BRF's board composition, including a diverse mix of new and incumbent directors, a new chairman, as well as a significant overlap with the dissident slate. As such, the proposed management slate appears to provide an adequate response to address the concerns raised by shareholders regarding the company's performance and its corporate governance.Therefore, a vote AGAINST the dissident slate presented under Item 3B1 is recommended.
3B2 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate?
Page 48 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
BRF SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3B3 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate?
Shareholders Must Only Vote FOR One of the Mgmt Slates Presented Under Items 4A - 4B
4A Elect Luiz Fernando Furlan as Board Chairman Mgmt For For and Walter Malieni Jr. as Vice-Chairman Appointed by Management Voter Rationale: In the light of the vote recommendation to support the management slate, support FOR the election of management nominees Luiz Fernando Furlan and Walter Malieni Jr., as chairman and vice-chairman of the board (Item 4A), respectively, is also recommended. As such, a vote AGAINST the dissident nominees Augusto Marques da Cruz Filho and Francisco Petros Papathanasiadis, as chairman and vice-chairman of the board (Item 4B), respectively, is warranted.
4B Elect Augusto Marques da Cruz Filho as SH None Against Chairman and Francisco Petros Oliveira Lima Papathanasiadis as Vice-Chairman Appointed by Dissident Shareholders Voter Rationale: In the light of the vote recommendation to support the management slate, support FOR the election of management nominees Luiz Fernando Furlan and Walter Malieni Jr., as chairman and vice-chairman of the board (Item 4A), respectively, is also recommended. As such, a vote AGAINST the dissident nominees Augusto Marques da Cruz Filho and Francisco Petros Papathanasiadis, as chairman and vice-chairman of the board (Item 4B), respectively, is warranted.
5 Amend Article 30 Mgmt For For
6 Amend Articles/Consolidate Bylaws Mgmt For For
BRF SA
Meeting Date: 05/25/2018 Country: Brazil Meeting Type: Special Ticker: BRFS3
Primary ISIN: BRBRFSACNOR8 Primary SEDOL: 2036995
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Rectify Remuneration of Company's Mgmt For Against Management for 2018 Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
2 Amend Share Matching Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Page 49 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
BRF SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Indemnity Contracts for the Members Mgmt For Against of the Board of Directors Voter Rationale: Companies should provide sufficient information in relation to the proposed liability insurance. Officers and directors should only be eligible for indemnification and liability protection if they have acted in good faith on company business and were found innocent of any civil or criminal charges for duties performed on behalf of the company.
Brilliance China Automotive Holdings Ltd.
Meeting Date: 06/22/2018 Country: Bermuda Meeting Type: Annual Ticker: 1114
Primary ISIN: BMG1368B1028 Primary SEDOL: 6181482
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2A Elect Wu Xiao An, Ng Siu On as Director Mgmt For For
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
2B Elect Qi Yumin as Director Mgmt For For
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
2C Elect Xu Bingjin as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Additionally. the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Likewise, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2D Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve Grant Thornton Hong Kong Limited as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
4A Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
4B Authorize Repurchase of Issued Share Capital Mgmt For For
4C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Page 50 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Capitec Bank Holdings Ltd
Meeting Date: 05/25/2018 Country: South Africa Meeting Type: Annual Ticker: CPI
Primary ISIN: ZAE000035861 Primary SEDOL: 6440859
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1 Re-elect Michiel du Pre le Roux as Director Mgmt For Against
Voter Rationale: The nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2 Re-elect Chris Otto as Director Mgmt For Against
Voter Rationale: The nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3 Re-elect Jean Pierre Verster as Director Mgmt For For
4 Reappoint PricewaterhouseCoopers Inc as Mgmt For For Auditors of the Company Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 Authorise Specific Issue of Loss Absorbent Mgmt For For Convertible Capital Securities for Cash
6 Authorise Board to Issue Shares for Cash Mgmt For For
7 Approve Remuneration Policy Mgmt For For
8 Approve Remuneration Implementation Report Mgmt For For
Special Resolutions Mgmt
1 Approve Non-executive Directors' Remuneration Mgmt For For
2 Authorise Repurchase of Issued Share Capital Mgmt For For
3 Authorise Repurchase of Existing Preference Mgmt For For Shares
4 Authorise Repurchase of Existing Preference Mgmt For For Shares from a Director or Prescribed Officer of the Company
5 Approve Financial Assistance in Terms of Mgmt For For Section 45 of the Companies Act
6 Approve Financial Assistance in Respect of the Mgmt For For Restricted Share Plan
Page 51 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Catcher Technology Co., Ltd.
Meeting Date: 06/11/2018 Country: Taiwan Meeting Type: Annual Ticker: 2474
Primary ISIN: TW0002474004 Primary SEDOL: 6186669
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
4 Approve Issuance of Ordinary Shares or Mgmt For Against Issuance of Ordinary Shares to Participate in the Issuance of Global Depository Receipt Voter Rationale: Any issuance of shares at a significant discount to the market price should be approved by shareholders prior to such issuance and not as a part of routine share issuance authorities.
Cathay Financial Holding Co., Ltd.
Meeting Date: 06/08/2018 Country: Taiwan Meeting Type: Annual Ticker: 2882
Primary ISIN: TW0002882008 Primary SEDOL: 6425663
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
4 Approve Raising of Long-term Capital Mgmt For For
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
CEBU Air Inc.
Meeting Date: 05/25/2018 Country: Philippines Meeting Type: Annual Ticker: CEB
Primary ISIN: PHY1234G1032 Primary SEDOL: B2NRDY6
Page 52 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CEBU Air Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve the Minutes of the Annual Meeting of Mgmt For For Stockholders Held on May 19, 2017
2 Approve Financial Statements for the Preceding Mgmt For For Year
Elect 9 Directors by Cumulative Voting Mgmt
3.1 Elect John L. Gokongwei, Jr. as Director Mgmt For Against
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Further, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.2 Elect James L. Go as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time. Also, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Further, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.3 Elect Lance Y. Gokongwei as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time. Also, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Further, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.4 Elect Frederick D. Go as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Further, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.5 Elect Robina Y. Gokongwei-Pe as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.6 Elect Jose F. Buenaventura as Director Mgmt For For
3.7 Elect Cornelio T. Peralta as Director Mgmt For For
3.8 Elect Antonio L. Go as Director Mgmt For For
Voter Rationale: In the context of increasingly complex international accounting standards, the audit committee benefits from members who have a good and recent understanding of the accounting rules and of the audit process.
3.9 Elect Wee Khoon Oh as Director Mgmt For For
Page 53 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CEBU Air Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Appoint SyCip Gorres Velayo & Co. as External Mgmt For Against Auditor Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
5 Ratify All Acts of the Board of Directors and Its Mgmt For For Committees, Officers, and Management
6 Approve Other Matters Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
CEMEX S.A.B. de C.V.
Meeting Date: 04/05/2018 Country: Mexico Meeting Type: Annual/Special Ticker: CEMEX CPO
Primary ISIN: MXP225611567 Primary SEDOL: 2406457
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Mgmt
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For Against
Voter Rationale: The company's payouts in recent years have consistently fallen below 30 percent of net income. Moreover, the company has failed to outperform the country's main equity index on a TSR basis in recent years.
3 Approve Five Year Extension of the Current Mgmt For Against Restricted Stock Option Plan for Executives, Officers and Employees; Authorize Increase in Variable Portion of Capital via Issuance of Treasury Shares Without Preemptive Rights
Voter Rationale: The company failed to disclose key terms of the proposed incentive plan, preventing us from making an informed voting decision.
4 Set Maximum Amount of Share Repurchase Mgmt For For Program
5 Elect Directors, Members and Chairmen of Mgmt For For Audit, Corporate Practices and Finance Committees Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance
6 Approve Remuneration of Directors and Mgmt For For Members of Audit, Corporate Practices and Finance Committees
Page 54 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CEMEX S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Special Meeting Mgmt
1 Authorize Increase in Variable Portion of Capital Mgmt For Against and Issuance of Convertible Bonds into Shares via Issuance of 11.25 Billion Treasury Shares without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Cencosud S.A.
Meeting Date: 04/27/2018 Country: Chile Meeting Type: Annual Ticker: CENCOSUD
Primary ISIN: CL0000000100 Primary SEDOL: B00R3L2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
a Approve Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
b Approve Allocation of Income and Dividends of Mgmt For For CLP 25 Per Share
c Approve Dividend Policy Mgmt For For
d Approve Remuneration of Directors Mgmt For For
e Approve Remuneration and Budget of Directors' Mgmt For For Committee
f Receive Report on Expenses of Directors and Mgmt For For Directors' Committee
g Appoint Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
h Designate Risk Assessment Companies Mgmt For For
i Receive Report of Directors' Committee; Receive Mgmt For For Report Regarding Related-Party Transactions
Page 55 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cencosud S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
j Receive Report on Oppositions Recorded on Mgmt For For Minutes of Board Meetings
k Designate Newspaper to Publish Mgmt For For Announcements
l Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
CESP, Companhia Energetica de Sao Paulo S.A.
Meeting Date: 04/24/2018 Country: Brazil Meeting Type: Annual Ticker: CESP6
Primary ISIN: BRCESPACNPB4 Primary SEDOL: B17MHG0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Paulo Roberto Franceschi as Fiscal Council SH None For Member and Giorgio Bampi as Alternate Appointed by Preferred Shareholders
Cez A.S.
Meeting Date: 06/22/2018 Country: Czech Republic Meeting Type: Annual Ticker: CEZ
Primary ISIN: CZ0005112300 Primary SEDOL: 5624030
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Receive Board of Directors Report on Company's Mgmt Operations and State of Its Assets
2 Receive Supervisory Board Report Mgmt
3 Receive Audit Committee Report Mgmt
4.1 Approve Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
Page 56 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cez A.S.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.2 Approve Consolidated Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
5 Approve Allocation of Income and Dividends of Mgmt For For CZK 33 per Share
6 Ratify Ernst & Young Audit s.r.o. as Auditor Mgmt For For
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
7 Approve Volume of Charitable Donations Mgmt For For
8 Receive Board of Directors Statement on Mgmt Transformation of CEZ Group
9 Recall and Elect Supervisory Board Members Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 Recall and Elect Audit Committee Members Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Chailease Holding Company Limited
Meeting Date: 05/24/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 5871
Primary ISIN: KYG202881093 Primary SEDOL: B58J1S8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Approve the Issuance of New Shares by Mgmt For For Capitalization of Profit
4 Amend Articles of Association Mgmt For For
APPROVE RELEASE OF RESTRICTIONS OF Mgmt COMPETITIVE ACTIVITIES OF DIRECTORS
5.1 Approve Release of Restriction of Competitive Mgmt For For Activities of John-Lee Koo
5.2 Approve Release of Restriction of Competitive Mgmt For For Activities of King Wai Alfred Wong
Page 57 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Chailease Holding Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.3 Approve Release of Restriction of Competitive Mgmt For For Activities of Dar-Yeh Hwang
China Conch Venture Holdings Ltd
Meeting Date: 06/27/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 586
Primary ISIN: KYG2116J1085 Primary SEDOL: BH7HM06
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Ji Qinying as Director Mgmt For For
3b Elect Li Jian as Director Mgmt For For
3c Elect Lau Chi Wah, Alex as Director Mgmt For For
4 Authorize Board to Fix Remuneration of Mgmt For For Directors
5 Approve KPMG as Auditors and Authorize Board Mgmt For For to Fix Their Remuneration
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
8 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Construction Bank Corporation
Meeting Date: 06/29/2018 Country: China Meeting Type: Annual Ticker: 939
Primary ISIN: CNE1000002H1 Primary SEDOL: B0LMTQ3
Page 58 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Construction Bank Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
ORDINARY RESOLUTIONS Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
2 Approve 2017 Report of the Board of Mgmt For For Supervisors
3 Approve 2017 Final Financial Accounts Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve Budget of 2018 Fixed Assets Mgmt For For Investment
6 Approve Remuneration Distribution and Mgmt For For Settlement Plan for Directors in 2016
7 Approve Remuneration Distribution and Mgmt For For Settlement Plan for Supervisors in 2016
8 Elect Wang Zuji as Director Mgmt For For
9 Elect Pang Xiusheng as Director Mgmt For For
10 Elect Zhang Gengsheng as Director Mgmt For For
11 Elect Li Jun as Director Mgmt For For
Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Also, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
12 Elect Anita Fung Yuen Mei as Director Mgmt For For
13 Elect Carl Walter as Director Mgmt For For
14 Elect Kenneth Patrick Chung as Director Mgmt For For
15 Elect Wu Jianhang as Supervisor Mgmt For For
16 Elect Fang Qiuyue as Supervisor Mgmt For For
17 Approve Capital Plan for 2018 to 2020 Mgmt For For
18 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as Domestic Auditors and PricewaterhouseCoopers as International Auditors and Fix Their Remuneration
SPECIAL RESOLUTION Mgmt
1 Approve Amendments to the Authorization to Mgmt For For the Board of Directors by the Shareholders' General Meeting on External Donations
Page 59 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Everbright International Ltd.
Meeting Date: 05/16/2018 Country: Hong Kong Meeting Type: Annual Ticker: 257
Primary ISIN: HK0257001336 Primary SEDOL: 6630940
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Companies should develop and disclose a policy aimed at encouraging greater diversity, including gender, at the board and executive management levels, and throughout the organisation.
2 Approve Final Dividend Mgmt For For
3a Elect Wong Kam Chung, Raymond as Director Mgmt For For
3b Elect Hu Yanguo as Director Mgmt For For
3c Elect Qian Xiaodong as Director Mgmt For For
3d Elect Fan Yan Hok, Philip as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3e Elect Mar Selwyn as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3f Authorize Board to Fix the Remuneration of the Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5.1 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
5.2 Authorize Repurchase of Issued Share Capital Mgmt For For
5.3 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Page 60 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Everbright Limited
Meeting Date: 05/17/2018 Country: Hong Kong Meeting Type: Annual Ticker: 165
Primary ISIN: HK0165000859 Primary SEDOL: 6455143
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Companies should develop and disclose a policy aimed at encouraging greater diversity, including gender, at the board and executive management levels, and throughout the organisation.
2 Approve Final Dividend Mgmt For For
3a Elect Tang Chi Chun, Richard as Director Mgmt For For
3b Elect Zhang Mingao as Director Mgmt For For
3c Elect Yin Lianchen as Director Mgmt For For
3d Elect Chung Shui Ming, Timpson as Director Mgmt For Against
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
3e Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Huarong Asset Management Co., Ltd.
Meeting Date: 04/09/2018 Country: China Meeting Type: Special Ticker: 2799
Primary ISIN: CNE100002367 Primary SEDOL: BYNK383
Page 61 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Huarong Asset Management Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Fixed Asset Budget for 2018 Mgmt For For
2 Approve Final Financial Account Plan for 2017 SH For For
3 Approve Profit Distribution Plan for 2017 SH For For
China Huarong Asset Management Co., Ltd.
Meeting Date: 05/15/2018 Country: China Meeting Type: Annual Ticker: 2799
Primary ISIN: CNE100002367 Primary SEDOL: BYNK383
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Work Report of Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Work Report of Board of Mgmt For For Supervisors
3 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP and Deloitte Touche Tohmatsu as Auditors and Authorize Board to Fix Their Remuneration
China Medical System Holdings Ltd.
Meeting Date: 04/26/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 867
Primary ISIN: KYG211081248 Primary SEDOL: B6WY993
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
Page 62 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Medical System Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3a Elect Lam Kong as Director Mgmt For For
Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. Additionally, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
3b Elect Chen Hongbing as Director Mgmt For For
3c Elect Wu Chi Keung as Director Mgmt For Against
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
3d Elect Leung Chong Shun as Director Mgmt For For
3e Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For Against and Authorize Board to Fix Their Remuneration
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Mengniu Dairy Co., Ltd.
Meeting Date: 05/04/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 2319
Primary ISIN: KYG210961051 Primary SEDOL: B01B1L9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
Page 63 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Mengniu Dairy Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3a Elect Ma Jianping as Director and Authorize Mgmt For Against Board to Fix His Remuneration Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Also, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3b Elect Niu Gensheng as Director and Authorize Mgmt For Against Board to Fix His Remuneration Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3c Elect Julian Juul Wolhardt as Director and Mgmt For For Authorize Board to Fix His Remuneration
3d Elect Pascal De Petrini as Director and Authorize Mgmt For Against Board to Fix His Remuneration Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
China Merchants Bank Co Ltd
Meeting Date: 06/27/2018 Country: China Meeting Type: Annual Ticker: 600036
Primary ISIN: CNE000001B33 Primary SEDOL: 6518723
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Work Report of the Board of Mgmt For For Directors
2 Approve 2017 Work Report of the Board of Mgmt For For Supervisors
3 Approve 2017 Annual Report Mgmt For For
4 Approve 2017 Audited Financial Statements Mgmt For For
5 Approve 2017 Profit Appropriation Plan Mgmt For For
Page 64 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Merchants Bank Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP as Domestic Auditor and Deloitte Touche Tohmatsu Certified Public Accountants as International Auditor and Authorize Board to Fix Their Remuneration
7 Approve Assessment Report on the Duty Mgmt For For Performance of Directors
8 Approve Assessment Report on the Duty Mgmt For For Performance of Supervisors
9 Approve Assessment Report on the Duty Mgmt For For Performance and Cross-Evaluation of Independent Directors
10 Approve Assessment Report on the Duty Mgmt For For Performance and Cross-Evaluation of External Supervisors
11 Approve Assessment Report on Duty Mgmt For For Performance of the Senior Management
12 Approve Related Party Transaction Report Mgmt For For
13 Elect Zhou Song as Director Mgmt For For
14 Amend Articles of Association Regarding Party Mgmt For Against Committee Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
15 Approve Issuance of Capital Bonds Mgmt For For
16 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
17 Elect Li Menggang as Director SH For For
18 Elect Liu Qiao as Director SH For For
China Mobile Limited
Meeting Date: 05/17/2018 Country: Hong Kong Meeting Type: Annual Ticker: 941
Primary ISIN: HK0941009539 Primary SEDOL: 6073556
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
Page 65 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Mobile Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Final Dividend Mgmt For For
3.1 Elect Shang Bing as Director Mgmt For For
3.2 Elect Li Yue as Director Mgmt For For
3.3 Elect Sha Yuejia as Director Mgmt For For
4 Approve PricewaterhouseCoopers and Mgmt For For PricewaterhouseCoopers Zhong Tian LLP as Auditors of the Group for Hong Kong Financial Reporting and U.S. Financial Reporting Purposes, Respectively and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
China Mobile Limited
Meeting Date: 05/17/2018 Country: Hong Kong Meeting Type: Annual Ticker: 941
Primary ISIN: HK0941009539 Primary SEDOL: 6073556
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Shang Bing as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3.2 Elect Li Yue as Director Mgmt For For
3.3 Elect Sha Yuejia as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
Page 66 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Mobile Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve PricewaterhouseCoopers and Mgmt For For PricewaterhouseCoopers Zhong Tian LLP as Auditors of the Group for Hong Kong Financial Reporting and U.S. Financial Reporting Purposes, Respectively and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China National Building Material Co., Ltd.
Meeting Date: 06/13/2018 Country: China Meeting Type: Annual Ticker: 3323
Primary ISIN: CNE1000002N9 Primary SEDOL: B0Y91C1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Board of Directors Mgmt For For
2 Approve 2017 Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Auditors' Report and Audited Mgmt For For Financial Statements
4 Approve 2017 Profit Distribution Plan and Final Mgmt For For Dividend Distribution Plan
5 Authorize Board to Deal With All Matters in Mgmt For For Relation to the Company's Distribution of Interim Dividend
6 Approve Baker Tilly China Certified Public Mgmt For For Accountants as Domestic Auditor and Baker Tilly Hong Kong Limited as International Auditor and Authorize Board to Fix Their Remuneration
7 Approve Financial Services Framework Mgmt For Against Agreement, Provision of Deposit Services and Its Cap and Related Transactions Voter Rationale: A vote against this proposal is warranted because the proposed related-party transactions include a financial service agreement with the group finance company, which may expose the company to unnecessary risks.
Page 67 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China National Building Material Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7A.a Elect Peng Jianxin as Director and Authorize SH For For Board to Fix His Remuneration
7A.b Elect Xu Weibing as Director and Authorize SH For For Board to Fix Her Remuneration
7A.c Elect Shen Yungang as Director and Authorize SH For For Board to Fix His Remuneration
7A.d Elect Fan Xiaoyan as Director and Authorize SH For For Board to Fix Her Remuneration
7B.a Elect Li Xinhua as Supervisor and Authorize SH For For Board to Fix His Remuneration
7B.b Elect Guo Yanming as Supervisor and Authorize SH For For Board to Fix His Remuneration
8 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for Domestic Shares and H Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9 Approve Issuance of Debt Financing Mgmt For For Instruments
10 Amend Articles of Association Regarding Party Mgmt For Against Committee Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
11 Amend Articles of Association and Rules of SH For For Procedure for Shareholders' General Meetings
China Pacific Insurance (Group) Co., Ltd
Meeting Date: 06/15/2018 Country: China Meeting Type: Annual Ticker: 601601
Primary ISIN: CNE1000008M8 Primary SEDOL: B29WFR2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
2 Approve 2017 Report of the Board of Mgmt For For Supervisors
3 Approve 2017 Annual Report of A shares Mgmt For For
4 Approve 2017 Annual Report of H shares Mgmt For For
Page 68 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Pacific Insurance (Group) Co., Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve 2017 Financial Statements And Report Mgmt For For
6 Approve 2017 Profit Distribution Plan Mgmt For For
7 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as PRC Auditor and Internal Control Auditor and PricewaterhouseCoopers as Hong Kong Auditor
8 Approve 2017 Due Diligence Report Mgmt For For
9 Approve 2017 Report on Performance of Mgmt For For Independent Directors
10.1 Elect Zhu Yonghong as Supervisor Mgmt For For
10.2 Elect Lu Ning as Supervisor Mgmt For For
11 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
12 Elect Huang Dinan as Director SH For Against
Voter Rationale: A vote AGAINST the election of Huang Dinan is warranted given that the board is not one-third independent, and Huang is a non-independent director nominees.
China Petroleum & Chemical Corp.
Meeting Date: 05/15/2018 Country: China Meeting Type: Annual Ticker: 386
Primary ISIN: CNE1000002Q2 Primary SEDOL: 6291819
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve Report of the Board of Directors Mgmt For For
2 Approve Report of the Board of Supervisors Mgmt For For
3 Approve 2017 Financial Reports Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve Interim Profit Distribution Plan Mgmt For For
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP and PricewaterhouseCoopers as External Auditors and Authorize Board to Fix Their Remuneration
Page 69 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Petroleum & Chemical Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Approve Service Contracts Between the Mgmt For For Company and Directors and Supervisors
8 Amend Articles of Association Mgmt For For
9 Amend Rules of Procedure Regarding Meetings Mgmt For For of Board of Directors
10 Approve the Establishment of the Board Mgmt For For Committee
11 Authorize Board to Determine the Proposed Plan Mgmt For Against for the Issuance of Debt Financing Instruments
12 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
ELECT NON-INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
13.01 Elect Dai Houliang as Director Mgmt For For
13.02 Elect Li Yunpeng as Director Mgmt For For
13.03 Elect Jiao Fangzheng as Director Mgmt For For
13.04 Elect Ma Yongsheng as Director Mgmt For For
13.05 Elect Ling Yiqun as Director Mgmt For For
13.06 Elect Liu Zhongyun as Director Mgmt For For
13.07 Elect Li Yong as Director Mgmt For For
ELECT INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
14.01 Elect Tang Min as Director Mgmt For For
14.02 Elect Fan Gang as Director Mgmt For For
14.03 Elect Cai Hongbin as Director Mgmt For For
14.04 Elect Ng, Kar Ling Johnny as Director Mgmt For For
ELECT SUPERVISORS VIA CUMULATIVE VOTING Mgmt
15.01 Elect Zhao Dong as Supervisor Mgmt For For
15.02 Elect Jiang Zhenying as Supervisor Mgmt For For
15.03 Elect Yang Changjiang as Supervisor Mgmt For For
15.04 Elect Zhang Baolong as Supervisor Mgmt For For
15.05 Elect Zou Huiping as Supervisor Mgmt For For
Page 70 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Petroleum & Chemical Corp.
Meeting Date: 05/15/2018 Country: China Meeting Type: Annual Ticker: 386
Primary ISIN: CNE1000002Q2 Primary SEDOL: 6291819
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Report of the Board of Directors Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities
2 Approve Report of the Board of Supervisors Mgmt For For
3 Approve 2017 Financial Reports Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve Interim Profit Distribution Plan Mgmt For For
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP and PricewaterhouseCoopers as External Auditors and Authorize Board to Fix Their Remuneration
7 Approve Service Contracts Between the Mgmt For For Company and Directors and Supervisors
8 Amend Articles of Association Mgmt For For
9 Amend Rules of Procedure Regarding Meetings Mgmt For For of Board of Directors
10 Approve the Establishment of the Board Mgmt For For Committee
11 Authorize Board to Determine the Proposed Plan Mgmt For Against for the Issuance of Debt Financing Instruments
Voter Rationale: A vote AGAINST this resolution is warranted given the limited disclosure regarding the proposed issuance of debt financing instruments.
12 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
ELECT NON-INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
13.01 Elect Dai Houliang as Director Mgmt For Against
Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. Also, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
13.02 Elect Li Yunpeng as Director Mgmt For For
Page 71 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Petroleum & Chemical Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
13.03 Elect Jiao Fangzheng as Director Mgmt For For
13.04 Elect Ma Yongsheng as Director Mgmt For For
13.05 Elect Ling Yiqun as Director Mgmt For For
13.06 Elect Liu Zhongyun as Director Mgmt For For
13.07 Elect Li Yong as Director Mgmt For For
ELECT INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
14.01 Elect Tang Min as Director Mgmt For For
14.02 Elect Fan Gang as Director Mgmt For For
14.03 Elect Cai Hongbin as Director Mgmt For For
14.04 Elect Ng, Kar Ling Johnny as Director Mgmt For For
ELECT SUPERVISORS VIA CUMULATIVE VOTING Mgmt
15.01 Elect Zhao Dong as Supervisor Mgmt For For
15.02 Elect Jiang Zhenying as Supervisor Mgmt For For
15.03 Elect Yang Changjiang as Supervisor Mgmt For For
15.04 Elect Zhang Baolong as Supervisor Mgmt For For
15.05 Elect Zou Huiping as Supervisor Mgmt For For
China Railway Construction Corporation Ltd.
Meeting Date: 06/11/2018 Country: China Meeting Type: Annual Ticker: 601186
Primary ISIN: CNE1000009T1 Primary SEDOL: B2PPPG4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Work Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
Page 72 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Railway Construction Corporation Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve 2017 Audited Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve 2017 Annual Report and Its Summary Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
6 Approve Determination of the Caps for Mgmt For For Guarantees for Subsidiaries of the Company for 2018
7 Approve Deloitte Touche Tohmatsu CPA LLP as Mgmt For For External Auditors
8 Approve Remuneration of Directors and Mgmt For For Supervisors
9 Approve Issuance of Domestic and Overseas Mgmt For Against Bonds and Related Transactions Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for A Shares and/or H Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
11 Amend Articles of Association Mgmt For For
China Resources Cement Holdings Ltd.
Meeting Date: 05/11/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 1313
Primary ISIN: KYG2113L1068 Primary SEDOL: B41XC98
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Du Wenmin as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties. Furthermore, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
Page 73 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Resources Cement Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.2 Elect Chen Ying as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3.3 Elect Ip Shu Kwan Stephen as Director Mgmt For For
3.4 Elect Lam Chi Yuen Nelson as Director Mgmt For For
3.5 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For Against Authorize Board to Fix Their Remuneration Voter Rationale: Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit. In addition, companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Resources Power Holdings Co., Ltd.
Meeting Date: 05/28/2018 Country: Hong Kong Meeting Type: Annual Ticker: 836
Primary ISIN: HK0836012952 Primary SEDOL: 6711566
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Ge Chang Xin as Director Mgmt For For
3.2 Elect Hu Min as Director Mgmt For For
3.3 Elect Wang Xiao Bin as Director Mgmt For For
3.4 Elect So Chak Kwong, Jack as Director Mgmt For For
Page 74 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Resources Power Holdings Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.5 Elect Li Ru Ge as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3.6 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Shenhua Energy Co., Ltd.
Meeting Date: 04/27/2018 Country: China Meeting Type: Special Ticker: 1088
Primary ISIN: CNE1000002R0 Primary SEDOL: B09N7M0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
EGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Amend Articles of Association Regarding Party Mgmt For Against Committee Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
2 Amend Existing Non-Competition Agreement Mgmt For For
3 Approve Joint Venture Agreement, Mgmt For For Establishment of a Joint Venture Company with GD Power Development Co., Ltd. and Relevant Financial Assistance Arrangements
4 Approve Revision of Annual Caps of the Existing Mgmt For For Mutual Coal Supply Agreement and the Existing Mutual Supplies and Services Agreement for the Years Ending on 31 December 2018 and 31 December 2019
ELECT NON-INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
Page 75 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Shenhua Energy Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.01 Elect Gao Song as Director Mgmt For For
5.02 Elect Mi Shuhua as Director Mgmt For For
ELECT INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
6.01 Elect Peng Suping as Director Mgmt For For
6.02 Elect Huang Ming as Director Mgmt For For
China State Construction International Holdings Limited
Meeting Date: 06/01/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 3311
Primary ISIN: KYG216771363 Primary SEDOL: B0BM5T8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3A Elect Hung Cheung Shew as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
3B Elect Wu Mingqing as Director Mgmt For For
3C Elect Zhang Haipeng as Director Mgmt For For
3D Elect Raymond Leung Hai Ming as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3E Elect Lee Shing See as Director Mgmt For For
4 Authorize Board to Fix Remuneration of Mgmt For For Directors
5 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
Page 76 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China State Construction International Holdings Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6A Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6B Authorize Repurchase of Issued Share Capital Mgmt For For
6C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Taiping Insurance Holdings Co Ltd.
Meeting Date: 05/24/2018 Country: Hong Kong Meeting Type: Annual Ticker: 966
Primary ISIN: HK0000055878 Primary SEDOL: 6264048
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a1 Elect Wang Sidong as Director Mgmt For For
3a2 Elect Wu Jiesi as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
3a3 Elect Wu Ting Yuk Anthony as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3a4 Elect Xie Zhichun as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3b Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
Page 77 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Taiping Insurance Holdings Co Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Traditional Chinese Medicine Holdings Co. Limited
Meeting Date: 05/02/2018 Country: Hong Kong Meeting Type: Special Ticker: 570
Primary ISIN: HK0000056256 Primary SEDOL: 6971779
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Subscription Agreement and Related Mgmt For Against Transactions Voter Rationale: Any issuance of shares at a significant discount to the market price should be approved by shareholders prior to such issuance and not as a part of routine share issuance authorities.
2 Elect Yang Shanhua as Director Mgmt For For
China Traditional Chinese Medicine Holdings Co. Limited
Meeting Date: 05/30/2018 Country: Hong Kong Meeting Type: Annual Ticker: 570
Primary ISIN: HK0000056256 Primary SEDOL: 6971779
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a1 Elect Zhao Dongji as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
Page 78 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Traditional Chinese Medicine Holdings Co. Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3a2 Elect Liu Cunzhou as Director Mgmt For For
3a3 Elect Xie Rong as Director Mgmt For For
3a4 Elect Yu Tze Shan Hailson as Director Mgmt For For
3b Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditor Mgmt For Against and Authorize Board to Fix Their Remuneration
Voter Rationale: Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
China Travel International Investment Hong Kong Limited
Meeting Date: 05/30/2018 Country: Hong Kong Meeting Type: Annual Ticker: 308
Primary ISIN: HK0308001558 Primary SEDOL: 6197285
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Lo Sui On as Director Mgmt For For
3b Elect Wong Man Kong, Peter as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3c Elect Chan Wing Kee as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3d Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve KPMG as Auditor and Authorize Board Mgmt For For to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
Page 79 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
China Travel International Investment Hong Kong Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
China Vanke Co., Ltd.
Meeting Date: 06/29/2018 Country: China Meeting Type: Annual Ticker: 000002
Primary ISIN: CNE0000000T2 Primary SEDOL: 6803708
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 Annual Report Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2017 Dividend Distribution Plan Mgmt For For
5 Approve KPMG Huazhen LLP and KPMG as Mgmt For For Auditors
6 Approve Authorization of Financial Assistance to Mgmt For For Third Parties
7 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for H Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Page 80 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Chipbond Technology Corp.
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 6147
Primary ISIN: TW0006147002 Primary SEDOL: 6432801
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
3.1 Elect Wu, Fei-Jain, with Shareholder No. Mgmt For For 0000009, as Non-Independent Director
3.2 Elect Gou, Huoo-Wen, with Shareholder No. Mgmt For For 0000094, as Non-Independent Director
3.3 Elect Lee, Jong-Fa, with Shareholder No. Mgmt For For 0000013, as Non-Independent Director
3.4 Elect a Representative of Peng Pao Technology Mgmt For For Co., Ltd. with Shareholder No. 0076716, as Non-Independent Director
3.5 Elect Hsu, Cha-Hwa with ID No. A111208XXX as Mgmt For For Independent Director
3.6 Elect Wang , William with ID No. B100398XXX Mgmt For For as Independent Director
3.7 Elect Huang, Ting Rong with ID No. Mgmt For For A221091XXX as Independent Director
4 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors
Chongqing Rural Commercial Bank Co., Ltd.
Meeting Date: 04/27/2018 Country: China Meeting Type: Annual Ticker: 3618
Primary ISIN: CNE100000X44 Primary SEDOL: B4Q1Y57
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Work Report of the Board of Mgmt For For Directors
Page 81 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Chongqing Rural Commercial Bank Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve 2017 Work Report of the Board of Mgmt For For Supervisors
3 Approve 2017 Annual Financial Final Proposal Mgmt For For
4 Approve 2017 Annual Profit Distribution Plan Mgmt For For
5 Approve 2018 Financial Budget Mgmt For For
6 Approve 2017 Annual Report Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
7 Approve External Auditors and Fix Their Mgmt For For Remuneration
8 Approve Revision of Dilution of Current Returns Mgmt For For by Initial Public Offering and Listing of A Shares and Remedial Measures
9 Approve Remuneration Plan of Directors Mgmt For For
10 Approve Remuneration Plan of Supervisors Mgmt For For
11 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
12 Approve Extension of the Term of Initial Public Mgmt For For Offering and Listing of A Shares
13 Approve Extension of the Term of Authorization Mgmt For For to the Board to Deal with All Matters in Relation to the Initial Public Offering and Listing of A Shares
14 Approve Issuance of Qualified Tier 2 Capital Mgmt For For Instruments
Chroma ATE Inc.
Meeting Date: 06/08/2018 Country: Taiwan Meeting Type: Annual Ticker: 2360
Primary ISIN: TW0002360005 Primary SEDOL: 6212100
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
Page 82 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Chroma ATE Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Amendments to Articles of Association Mgmt For For
Cielo SA
Meeting Date: 04/20/2018 Country: Brazil Meeting Type: Annual Ticker: CIEL3
Primary ISIN: BRCIELACNOR3 Primary SEDOL: B614LY3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Capital Budget, Allocation of Income Mgmt For For and Dividends
3 Fix Number of Directors Mgmt For For
4 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5.1 Elect Antonio Mauricio Maurano as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.2 Elect Bernardo de Azevedo Silva Rothe as Mgmt For Against Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.3 Elect Marcelo Augusto Dutra Labuto as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
5.4 Elect Rogerio Magno Panca as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 83 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cielo SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.5 Elect Cesario Narihito Nakamura as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.6 Elect Francisco Jose Pereira Terra as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.7 Elect Marcelo de Araujo Noronha as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.8 Elect Vinicius Urias Favarao as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.9 Elect Aldo Luiz Mendes as Independent Director Mgmt For For
5.10 Elect Francisco Augusto da Costa e Silva as Mgmt For For Independent Director
5.11 Elect Gilberto Mifano as Independent Director Mgmt For For
6 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes for Each Supported Nominee? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 6, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
7.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Antonio Mauricio Maurano as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Bernardo de Azevedo Silva Rothe as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marcelo Augusto Dutra Labuto as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Rogerio Magno Panca as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 84 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cielo SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Cesario Narihito Nakamura as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Francisco Jose Pereira Terra as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marcelo de Araujo Noronha as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Vinicius Urias Favarao as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.9 Percentage of Votes to Be Assigned - Elect Aldo Mgmt None Abstain Luiz Mendes as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.10 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Francisco Augusto da Costa e Silva as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.11 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Gilberto Mifano as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Members Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Cielo SA
Meeting Date: 04/20/2018 Country: Brazil Meeting Type: Special Ticker: CIEL3
Primary ISIN: BRCIELACNOR3 Primary SEDOL: B614LY3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Fix Number of Fiscal Council Members Mgmt For For
Page 85 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cielo SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.1 Elect Adriano Meira Ricci as Fiscal Council Mgmt For For Member and Flavio Saba Santos Estrela as Alternate
2.2 Elect Joel Antonio de Araujo as Fiscal Council Mgmt For For Members and Sigmar Milton Mayer Filho as Alternate
2.3 Elect Herculano Anibal Alves as Fiscal Council Mgmt For For Member and Kleber do Espirito Santo as Alternate
2.4 Elect Marcelo Santos Dall'Occo as Fiscal Council Mgmt For For Member and Carlos Roberto Mendonca da Siva as Alternate
2.5 Elect Haroldo Reginaldo Levy Neto as Fiscal Mgmt For For Council Member and Milton Luiz Milioni as Alternate
3 Authorize Capitalization of Reserves Without Mgmt For For Issuance of Shares and Amend Article 7 Accordingly
4 Amend Articles Mgmt For For
5 Consolidate Bylaws Mgmt For For
CIMB Group Holdings Berhad
Meeting Date: 04/26/2018 Country: Malaysia Meeting Type: Annual Ticker: CIMB
Primary ISIN: MYL1023OO000 Primary SEDOL: 6075745
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Nazir Razak as Director Mgmt For For
2 Elect Glenn Muhammad Surya Yusuf as Director Mgmt For For
3 Elect Watanan Petersik as Director Mgmt For For
4 Elect Ahmad Zulqarnain Che On as Director Mgmt For For
5 Approve Remuneration of Directors Mgmt For For
6 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
7 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
Page 86 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CIMB Group Holdings Berhad
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Approve Issuance of New Ordinary Shares Mgmt For For Under the Dividend Reinvestment Scheme
9 Authorize Share Repurchase Program Mgmt For For
10 Adopt New Constitution Mgmt For For
CITIC Limited
Meeting Date: 06/14/2018 Country: Hong Kong Meeting Type: Annual Ticker: 267
Primary ISIN: HK0267001375 Primary SEDOL: 6196152
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Wang Jiong as Director Mgmt For For
4 Elect Song Kangle as Director Mgmt For For
5 Elect Liu Zhuyu as Director Mgmt For For
6 Elect Yang Xiaoping as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
7 Elect Wu Youguang as Director Mgmt For For
8 Elect Francis Siu Wai Keung as Director Mgmt For For
9 Elect Anthony Francis Neoh as Director Mgmt For For
10 Elect Shohei Harada as Director Mgmt For For
11 Elect Peng Yanxiang as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
12 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
13 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
14 Authorize Repurchase of Issued Share Capital Mgmt For For
Page 87 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CITIC Securities Co., Ltd.
Meeting Date: 06/26/2018 Country: China Meeting Type: Annual Ticker: 600030
Primary ISIN: CNE000001DB6 Primary SEDOL: 6579355
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
ORDINARY RESOLUTIONS Mgmt
1 Approve 2017 Work Report of the Board Mgmt For For
2 Approve 2017 Work Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Annual Report Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For Against LLP and PricewaterhouseCoopers as PRC and International Auditors Respectively, PricewaterhouseCoopers Zhong Tian LLP as Internal Control Auditor and Fix Their Remuneration
6 Approve 2018 Estimated Investment Amount for Mgmt For For Proprietary Business
8 Approve Potential Related Party Transactions Mgmt For Against Involved in the Issuances of the Onshore and Offshore Corporate Debt Financing Instruments
10 Approve Remuneration of Directors and Mgmt For For Supervisors
RESOLUTIONS RELATING TO THE ESTIMATION Mgmt OF RELATED PARTY/CONTINUING CONNECTED TRANSACTIONS CONTEMPLATED IN 2018
11.01 Approve Contemplated Related Party/Connected Mgmt For For Transactions Between the Company and Its Subsidiaries and the CITIC Group and Its Subsidiaries and Associates
11.02 Approve Contemplated Related Party/Connected Mgmt For For Transactions Between the Company and Its Subsidiaries and Other Related/Connected Parties
12 Elect Kuang Tao as Director SH For For
14 Elect Liu Hao as Supervisor SH For For
SPECIAL RESOLUTIONS Mgmt
Page 88 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CITIC Securities Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
RESOLUTIONS RELATING TO THE Mgmt RE-AUTHORIZATION OF ISSUANCES OF ONSHORE AND OFFSHORE CORPORATE DEBT FINANCING ISTRUMENTS
7.01 Approve Issuing Entity, Size of Issuance and Mgmt For Against Method of Issuance in Relation to the Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.02 Approve Type of the Debt Financing Mgmt For Against Instruments in Relation to the Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.03 Approve Term of the Debt Financing Mgmt For Against Instruments in Relation to the Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.04 Approve Interest Rate of the Debt Financing Mgmt For Against Instruments in Relation to the Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.05 Approve Security and Other Arrangements in Mgmt For Against Relation to the Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.06 Approve Use of Proceeds in Relation to the Mgmt For Against Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.07 Approve Issuing Price in Relation to the Mgmt For Against Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.08 Approve Targets of Issue and the Placement Mgmt For Against Arrangements of the RMB Debt Financing Instruments to the Shareholders in Relation to the Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.09 Approve Listing of the Debt Financing Mgmt For Against Instruments in Relation to the Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
7.10 Approve Resolutions Validity Period in Relation Mgmt For Against to the Re-authorization of Issuances of Onshore and Offshore Corporate Debt Financing Instruments
Page 89 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CITIC Securities Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.11 Approve Authorization for the Issuances of the Mgmt For Against Onshore and Offshore Corporate Debt Financing Instruments in Relation to the Issuances of Onshore and Offshore Corporate Debt Financing Instruments
9 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for A Shares and H Shares
13 Amend Articles of Association Mgmt For For
CJ O Shopping Co. Ltd.
Meeting Date: 05/29/2018 Country: South Korea Meeting Type: Special Ticker: A035760
Primary ISIN: KR7035760008 Primary SEDOL: 6199753
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Incorporation Mgmt For Against
2 Approve Merger Agreement with CJ E&M Mgmt For Against
3.1 Elect Kim Seong-su as Inside Director Mgmt For For
3.2 Elect Choi Eun-seok as Inside Director Mgmt For For
3.3 Elect Park Yang-woo as Outside Director Mgmt For For
3.4 Elect Hong Ji-ah as Outside Director Mgmt For For
4.1 Elect Park Yang-woo as a Member of Audit Mgmt For For Committee
4.2 Elect Hong Ji-ah as a Member of Audit Mgmt For For Committee
CNOOC Ltd.
Meeting Date: 05/31/2018 Country: Hong Kong Meeting Type: Annual Ticker: 883
Primary ISIN: HK0883013259 Primary SEDOL: B00G0S5
Page 90 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CNOOC Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
A1 Accept Financial Statements and Statutory Mgmt For For Reports
A2 Approve Final Dividend Mgmt For For
A3 Elect Yuan Guangyu as Director Mgmt For For
A4 Elect Yang Hua as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
A5 Elect Wang Dongjin as Director Mgmt For Against
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
A6 Elect Tse Hau Yin, Aloysius as Director Mgmt For For
A7 Authorize Board to Fix the Remuneration of Mgmt For For Directors
A8 Approve Deloitte Touche Tohmatsu as Mgmt For For Independent Auditors and Authorize Board to Fix Their Remuneration
B1 Authorize Repurchase of Issued Share Capital Mgmt For For
B2 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
B3 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Compal Electronics Inc.
Meeting Date: 06/22/2018 Country: Taiwan Meeting Type: Annual Ticker: 2324
Primary ISIN: TW0002324001 Primary SEDOL: 6225744
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
Page 91 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Compal Electronics Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Elect HSU SHENG HSIUNG, with Shareholder Mgmt For For No. 23, as Non-Independent Director Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
1.2 Elect CHEN JUI TSUNG, with Shareholder No. Mgmt For For 83, as Non-Independent Director
1.3 Elect a Representative of Binpal Investment Co., Mgmt For Against Ltd., with Shareholder No. 632194, as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
1.4 Elect a Representative of Kinpo Electronics Inc., Mgmt For Against with Shareholder No. 85, as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
1.5 Elect KO CHARNG CHYI, with Shareholder No. Mgmt For Against 55, as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
1.6 Elect HSU SHENG CHIEH, with Shareholder No. Mgmt For Against 3, as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
1.7 Elect CHOU YEN CHIA, with Shareholder No. 60, Mgmt For Against as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
1.8 Elect WONG CHUNG PIN, with Shareholder No. Mgmt For For 1357, as Non-Independent Director
1.9 Elect HSU CHIUNG CHI, with Shareholder No. Mgmt For Against 91, as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
1.10 Elect CHANG MING CHIH, with Shareholder No. Mgmt For For 1633, as Non-Independent Director
1.11 Elect ANTHONY PETER BONADERO, with ID No. Mgmt For Against 548777XXX, as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
1.12 Elect PENG SHENG HUA, with Shareholder No. Mgmt For For 375659, as Non-Independent Director
1.13 Elect HSUAN MIN CHIH, with ID No. Mgmt For Against F100588XXX, as Independent Director Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
Page 92 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Compal Electronics Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.14 Elect TSAI DUEI, with ID No. L100933XXX, as Mgmt For For Independent Director
1.15 Elect TSAI DUH KUNG, with ID No. Mgmt For For L101428XXX, as Independent Director
2 Approve Business Operations Report and Mgmt For For Financial Statements
3 Approve Profit Distribution Mgmt For For
4 Approve Cash Distribution from Capital Reserve Mgmt For For
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
Companhia de Saneamento de Minas Gerais (COPASA)
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: CSMG3
Primary ISIN: BRCSMGACNOR5 Primary SEDOL: B0YBZJ2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017
2 Approve Allocation of Income and Dividends Mgmt For For
3 Approve Investment Plan Mgmt For For
4 Fix Number of Directors and Fiscal Council Mgmt For For Members
5 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Elect Fiscal Council Members Mgmt For For
7 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 93 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Companhia de Saneamento de Minas Gerais (COPASA)
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Elect Directors Mgmt For Against
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
9 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 10, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
11.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Flavia Mourao Parreira do Amaral as Director Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Rubens Coelho de Mello as Director Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marco Antonio Soares da Cunha Castello Branco as Director Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Remulo Borges de Azevedo Lemos as Director Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Sinara Inacio Meireles Chenna as Director Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Gustavo Rocha Gattass as Director Appointed by Minority Shareholder Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 94 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Companhia de Saneamento de Minas Gerais (COPASA)
Meeting Date: 05/07/2018 Country: Brazil Meeting Type: Special Ticker: CSMG3
Primary ISIN: BRCSMGACNOR5 Primary SEDOL: B0YBZJ2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Remuneration of Company's Mgmt For For Management
2 Amend Articles Mgmt For Against
Voter Rationale: It is inappropriate for several voting items to be bundled into one resolution. Shareholders should be able to vote each item separately. Furthermore, changes in company's articles or by-laws should not erode shareholder rights.
3 Amend Dividend Policy Mgmt For For
4 Approve Interim Dividends Mgmt For For
Companhia Saneamento Basico do Estado de Sao Paulo - SABESP
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Special Ticker: SBSP3
Primary ISIN: BRSBSPACNOR5 Primary SEDOL: B1YCHL8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles Mgmt For For
2 Consolidate Bylaws Mgmt For For
3 Approve Dividend Policy Mgmt For Against
Voter Rationale: A vote AGAINST this item is warranted because the proposed 25-percent dividend policy is below the 30-100 percent reasonable range.
Companhia Saneamento Basico do Estado de Sao Paulo - SABESP
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: SBSP3
Primary ISIN: BRSBSPACNOR5 Primary SEDOL: B1YCHL8
Page 95 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Companhia Saneamento Basico do Estado de Sao Paulo - SABESP
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017
2 Approve Allocation of Income and Dividends Mgmt For For
3 Fix Number of Directors at Nine Mgmt For For
4 Elect Directors Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
5 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 6, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
7.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Mario Engler Pinto Junior as Board Chairman Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Jerson Kelman as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Rogerio Ceron de Oliveira as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Francisco Vidal Luna as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Jeronimo Antunes as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 96 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Companhia Saneamento Basico do Estado de Sao Paulo - SABESP
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Reinaldo Guerreiro as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Francisco Luiz Sibut Gomide as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Lucas Navarro Prado as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.9 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Ernesto Rubens Gelbcke as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 Elect Fiscal Council Members Mgmt For For
10 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 Approve Remuneration of Company's Mgmt For For Management and Fiscal Council
Compania Cervecerias Unidas S.A.
Meeting Date: 04/11/2018 Country: Chile Meeting Type: Annual Ticker: CCU
Primary ISIN: CLP249051044 Primary SEDOL: 2196189
Page 97 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Compania Cervecerias Unidas S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Receive Chairman's Report Mgmt
2 Approve Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Allocation of Income and Dividends of Mgmt For For CLP 108.89 per Share and CLP 217.78 per ADR to Be Distributed on April 26, 2018
4 Present Dividend Policy and Distribution Mgmt Procedures
5 Approve Remuneration of Directors Mgmt For Withhold
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
6 Approve Remuneration and Budget of Directors' Mgmt For For Committee
7 Approve Remuneration and Budget of Audit Mgmt For For Committee
8a Appoint Auditors Mgmt For Withhold
Voter Rationale: Companies should disclose information on the auditor and fees paid to the auditor, and specify any non-audit work undertaken by the auditor.
8b Designate Risk Assessment Companies Mgmt For For
9 Receive Directors' Committee Report on Mgmt Activities
10 Receive Report Regarding Related-Party Mgmt Transactions
11 Transact Other Business Mgmt
Corporacion America Airports S.A.
Meeting Date: 05/30/2018 Country: Luxembourg Meeting Type: Annual Ticker: CAAP
Primary ISIN: LU1756447840 Primary SEDOL: BD45SN0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
Page 98 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Corporacion America Airports S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Receive Financial Statements and Statutory Mgmt Reports (Non-Voting)
2 Approve Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Furthermore, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
3 Approve Allocation of Income Mgmt For For
4 Approve Discharge of Directors Mgmt For For
5 Approve Remuneration of Directors Mgmt For For
6 Appoint PricewaterhouseCoopers as Auditor Mgmt For For
Cosan S.A. Industria e Comercio
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Special Ticker: CSAN3
Primary ISIN: BRCSANACNOR6 Primary SEDOL: B0P72G5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Change Company Name to Cosan S.A. and Mgmt For For Amend Article 1 Accordingly
2 Authorize Capitalization of Reserves and Amend Mgmt For For Article 5 Accordingly
3 Amend Articles Mgmt For For
4 Consolidate Bylaws Mgmt For For
5 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Cosan S.A. Industria e Comercio
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Annual Ticker: CSAN3
Primary ISIN: BRCSANACNOR6 Primary SEDOL: B0P72G5
Page 99 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cosan S.A. Industria e Comercio
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Also, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
4 Fix Number of Fiscal Council Members at Five Mgmt For For
5.1 Elect Vanessa Claro Lopes as Fiscal Council Mgmt For For Member and Carla Alessandra Trematore as Alternate
5.2 Elect Alberto Asato as Fiscal Council Member Mgmt For For and Edison Andrade de Souza as Alternate
5.3 Elect Marcelo Curti as Fiscal Council Member Mgmt For For and Henrique Ache Pillar as Alternate
5.4 Elect José Mauricio Disep Costa as Fiscal Council Mgmt For For Member and Francisco Silverio Morales Cespede as Alternate
5.5 Elect Luiz Carlos Nannini as Fiscal Council Mgmt For For Member and Felipe Bertoncello Carvalhedo as Alternate
6 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Country Garden Holdings Company Ltd.
Meeting Date: 05/17/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 2007
Primary ISIN: KYG245241032 Primary SEDOL: B1VKYN6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
Page 100 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Country Garden Holdings Company Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3a1 Elect Yeung Kwok Yeung as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3a2 Elect Yang Ziying as Director Mgmt For For
3a3 Elect Yang Zhicheng as Director Mgmt For For
3a4 Elect Tong Wui Tung as Director Mgmt For For
3a5 Elect Huang Hongyan as Director Mgmt For For
3b Authorize Board to Fix the Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
8 Adopt New Articles of Association Mgmt For For
Country Garden Holdings Company Ltd.
Meeting Date: 05/17/2018 Country: Cayman Islands Meeting Type: Special Ticker: 2007
Primary ISIN: KYG245241032 Primary SEDOL: B1VKYN6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve CGS Share Option Scheme Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Also, share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Page 101 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Country Garden Holdings Company Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Grant of Options to Mo Bin Under the Mgmt For Against CGS Share Option Scheme Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Also, share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
CP All PCL
Meeting Date: 04/20/2018 Country: Thailand Meeting Type: Annual Ticker: CPALL
Primary ISIN: TH0737010Y08 Primary SEDOL: B08YDG0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Directors' Report Mgmt
3 Approve Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividend Mgmt For For Payment
5.1 Elect Dhanin Chearavanont as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, the board should have at least 50% independent directors. Lastly, attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties. Finally, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
5.2 Elect Korsak Chairasmisak as Director Mgmt For For
5.3 Elect Soopakij Chearavanont as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. . Additionally. the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Likewise, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
5.4 Elect Adirek Sripratak as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity.
5.5 Elect Tanin Buranamanit as Director Mgmt For For
Page 102 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CP All PCL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
7 Approve KPMG Phoomchai Audit Ltd. as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
8 Amend Articles of Association Mgmt For For
9 Other Business Mgmt
CSPC Pharmaceutical Group Ltd.
Meeting Date: 05/25/2018 Country: Hong Kong Meeting Type: Annual Ticker: 1093
Primary ISIN: HK1093012172 Primary SEDOL: 6191997
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a1 Elect Wang Huaiyu as Director Mgmt For For
3a2 Elect Wang Zhenguo as Director Mgmt For For
3a3 Elect Lu Hua as Director Mgmt For For
3a4 Elect Li Chunlei as Director Mgmt For For
3a5 Elect Lo Yuk Lam as Director Mgmt For For
3a6 Elect Yu Jinming as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3b Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Page 103 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
CSPC Pharmaceutical Group Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
8 Approve Grant of Options Under the Share Mgmt For Against Option Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Also, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control. Finally, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
CTBC Financial Holding Co., Ltd.
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 2891
Primary ISIN: TW0002891009 Primary SEDOL: 6527666
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
3 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
4 Amend Articles of Association Mgmt For For
Cub Elecparts Inc.
Meeting Date: 06/08/2018 Country: Taiwan Meeting Type: Annual Ticker: 2231
Primary ISIN: TW0002231008 Primary SEDOL: B297JM0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
Page 104 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cub Elecparts Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve the Issuance of New Shares by Mgmt For For Capitalization of Profit
CVC Brasil Operadora e Agencia de Viagens SA
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: CVCB3
Primary ISIN: BRCVCBACNOR1 Primary SEDOL: BGSH2S6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
2 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Capital Budget Mgmt For For
4 Approve Allocation of Income and Dividends Mgmt For For
5 Approve Remuneration of Company's Mgmt For For Management
CVC Brasil Operadora e Agencia de Viagens SA
Meeting Date: 05/14/2018 Country: Brazil Meeting Type: Special Ticker: CVCB3
Primary ISIN: BRCVCBACNOR1 Primary SEDOL: BGSH2S6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles Mgmt For For
2 Consolidate Bylaws Mgmt For For
3 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
4 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
Page 105 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cyfrowy Polsat SA
Meeting Date: 06/28/2018 Country: Poland Meeting Type: Annual Ticker: CPS
Primary ISIN: PLCFRPT00013 Primary SEDOL: B2QRCM4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4.1 Elect Member of Vote Counting Commission Mgmt For For
4.2 Elect Member of Vote Counting Commission Mgmt For For
4.3 Elect Member of Vote Counting Commission Mgmt For For
5 Approve Agenda of Meeting Mgmt For For
6.1 Receive Management Board Report on Mgmt Company's Operations and Financial Statements
6.2 Receive Management Board Report on Group's Mgmt Operations and Consolidated Financial Statements
6.3 Receive Management Board Report on Metelem Mgmt Holding Company Ltd. Operations and Financial Statements
6.4 Receive Management Board Report on Eileme 1 Mgmt AB and Financial Statements
7 Receive Supervisory Board Reports on Its Mgmt Review of Management Board Report on Company's Operations, Financial Statements, and Management Board Proposal on Allocation of Income
8 Receive Supervisory Board Report on Mgmt Company's Standing and Management Board Activities
9 Approve Management Board Report on Mgmt For For Company's Operations
10 Approve Financial Statements Mgmt For For
11 Approve Management Board Report on Group's Mgmt For For Operations
12 Approve Consolidated Financial Statements Mgmt For For
13 Approve Financial Statements of Metelem Mgmt For Against Holding Company Ltd Voter Rationale: Votes AGAINST these resolutions are warranted because the company failed to disclose the financial statements and auditor reports.
Page 106 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cyfrowy Polsat SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
14 Approve Financial Statements of Eileme 1 AB Mgmt For Against
Voter Rationale: Votes AGAINST these resolutions are warranted because the company failed to disclose the financial statements and auditor reports.
15 Approve Supervisory Board Report Mgmt For For
16.1 Approve Discharge of Tobias Solorz (CEO) Mgmt For For
16.2 Approve Discharge of Dariusz Dzialkowski Mgmt For For (Management Board Member)
16.3 Approve Discharge of Tomasz Gillner-Gorywoda Mgmt For For (Management Board Member)
16.4 Approve Discharge of Aneta Jaskolska Mgmt For For (Management Board Member)
16.5 Approve Discharge of Agnieszka Odorowicz Mgmt For For (Management Board Member)
16.6 Approve Discharge of Katarzyna Ostap-Tomann Mgmt For For (Management Board Member)
16.7 Approve Discharge of Maciej Stec (Management Mgmt For For Board Member)
17.1 Approve Discharge of Marek Kapuscinski Mgmt For For (Supervisory Board Chairman)
17.2 Approve Discharge of Tomasz Szelag Mgmt For For (Supervisory Board Member)
17.3 Approve Discharge of Jozef Birka (Supervisory Mgmt For For Board Member)
17.4 Approve Discharge of Robert Gwiazdowski Mgmt For For (Supervisory Board Member)
17.5 Approve Discharge of Aleksander Myszka Mgmt For For (Supervisory Board Member)
17.6 Approve Discharge of Leszek Reksa Mgmt For For (Supervisory Board Member)
17.7 Approve Discharge of Heronim Ruta Mgmt For For (Supervisory Board Member)
18.1 Approve Discharge of Joanna Elia (Management Mgmt For For Board Member of Metelem Holding Company Ltd.)
18.2 Approve Discharge of Pantelis Christofides Mgmt For For (Management Board Member of Metelem Holding Company Ltd.)
19.1 Approve Discharge of Jan Nihlen (Management Mgmt For For Board Member of Eileme 1 AB)
19.2 Approve Discharge of Ole Meier Sorensen Mgmt For For (Management Board Member of Eileme 1 AB)
19.3 Approve Discharge of Edgar Voegg Mgmt For For (Management Board Member of Eileme 1 AB)
Page 107 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Cyfrowy Polsat SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
19.4 Approve Discharge of Jesper Kryger Nielsen Mgmt For For (Management Board Member of Eileme 1 AB)
20 Approve Allocation of Income Mgmt For For
21 Approve Treatment of Net Loss of Metelem Mgmt For For Holding Company Ltd.
22 Approve Treatment of Net Loss of Eileme 1 AB Mgmt For For
23.1 Fix Number of Supervisory Board Members Mgmt For For
23.2 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
23.3 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
23.4 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
23.5 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
23.6 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
23.7 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
24 Close Meeting Mgmt
DAMAC Properties Dubai Co PJSC
Meeting Date: 04/22/2018 Country: United Arab Emirates Meeting Type: Annual Ticker: DAMAC
Primary ISIN: AED001301012 Primary SEDOL: BVC39Y0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Business Mgmt
1 Approve Board Report on Company Operations Mgmt For For for FY 2017
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DAMAC Properties Dubai Co PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Auditors' Report on Company Financial Mgmt For For Statements for FY 2017
3 Accept Financial Statements and Statutory Mgmt For For Reports for FY 2017
4 Approve Dividends of AED 0.25 per Share for FY Mgmt For For 2017
5 Approve Discharge of Directors for FY 2017 Mgmt For For
6 Approve Discharge of Auditors for FY 2017 Mgmt For For
7 Ratify Auditors and Fix Their Remuneration Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
8 Allow Directors to Engage in Commercial Mgmt For For Transactions with Competitors Except Selling Off Plan
Extraordinary Business Mgmt
9 Approve Charitable Donations Up to AED 10 Mgmt For For Million and Authorize Board to Decide Beneficiary Name
Delta Electronics Inc.
Meeting Date: 06/11/2018 Country: Taiwan Meeting Type: Annual Ticker: 2308
Primary ISIN: TW0002308004 Primary SEDOL: 6260734
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect Yancey Hai, with Shareholder Mgmt For For No.00038010, as Non-Independent Director
4.2 Elect Mark Ko, with Shareholder No.00015314, Mgmt For For as Non-Independent Director
4.3 Elect Bruce CH Cheng, with Shareholder Mgmt For For No.00000001, as Non-Independent Director
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Delta Electronics Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.4 Elect Ping Cheng, with Shareholder Mgmt For For No.00000043, as Non-Independent Director
4.5 Elect Simon Chang, with Shareholder Mgmt For For No.00000019, as Non-Independent Director
4.6 Elect Albert Chang, with Shareholder Mgmt For For No.00000032, as Non-Independent Director
4.7 Elect Victor Cheng, with Shareholder Mgmt For For No.00000044, as Non-Independent Director
4.8 Elect Yung-Chin Chen, with ID No. A100978XXX, Mgmt For For as Independent Director
4.9 Elect George Chao, with ID No. K101511XXX, as Mgmt For For Independent Director
4.10 Elect Tsong-Pyng Perng, with ID No. Mgmt For For J100603XXX, as Independent Director
4.11 Elect Ji-Ren Lee, with ID No. Y120143XXX, as Mgmt For For Independent Director
5 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Directors Voter Rationale: Companies should clearly disclose the business benefits cross directorships will bring, or how conflicts of interest or competition concerns will be managed if these directors engage in business activities with competitors.
Detsky Mir PJSC
Meeting Date: 05/18/2018 Country: Russia Meeting Type: Annual Ticker: DSKY
Primary ISIN: RU000A0JSQ90 Primary SEDOL: BTSTNQ8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Meeting Procedures Mgmt For For
2 Approve Annual Report Mgmt For For
3 Approve Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividends of Mgmt For For RUB 3.88
5 Fix Number of Directors Mgmt For For
Elect Directors via Cumulative Voting Mgmt
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Detsky Mir PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6.1 Elect Christopher Baxter as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Moreover, given the non-independent status of the Chairman, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate. Then, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
6.2 Elect Vitaly Vavilov as Director Mgmt None For
6.3 Elect Artyom Zasursky as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
6.4 Elect Aleksey Katkov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
6.5 Elect Tony Meyer as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
6.6 Elect James McArtur as Director Mgmt None For
6.7 Elect Andrey Morozov as Director Mgmt None For
6.8 Elect Elizabeth Kirkwood as Director Mgmt None For
6.9 Elect Olga Ryzhkova as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
6.10 Elect Gevork Sarkisyan as Director Mgmt None For
6.11 Elect Vladimir Chirakhov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
6.12 Elect Aleksandr Shevchuk as Director Mgmt None For
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Detsky Mir PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6.13 Elect Aleksandr Shulgin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Members of Audit Commission Mgmt
7.1 Elect Marina Zhuravlyova as Member of Audit Mgmt For For Commission
7.2 Elect Marina Ivanova as Member of Audit Mgmt For For Commission
7.3 Elect Aleksandr Patyukov as Member of Audit Mgmt For For Commission
7.4 Elect Nadezhda Voskresenskaya as Member of Mgmt For Do Not Vote Audit Commission Voter Rationale: Votes FOR Vavilov (Item 6.2), McArtur (Item 6.6), Sarkisyan (Item 6.10), and Shevchuk (Item 6.12) are warranted because these nominees can be classified as independent, making them the most likely of all the candidates to act in all shareholders' interest.
8 Ratify ZAO Deloitte Touche SNG as Auditor Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
9 Approve New Edition of Charter Mgmt For For
Dewan Housing Finance Corporation Limited
Meeting Date: 06/27/2018 Country: India Meeting Type: Annual Ticker: DHFL
Primary ISIN: INE202B01012 Primary SEDOL: 6727585
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Interim Dividends and Declare Final Mgmt For For Dividend
3 Reelect Dheeraj Wadhawan as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
4 Approve Deloitte Haskins & Sells LLP, Chartered Mgmt For For Accountants as Joint Statutory Auditors and Authorize Board to Fix Their Remuneration
Page 112 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Dewan Housing Finance Corporation Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Issuance of Non-Convertible Mgmt For For Debentures on Private Placement Basis
Dino Polska S.A.
Meeting Date: 05/21/2018 Country: Poland Meeting Type: Annual Ticker: DNP
Primary ISIN: PLDINPL00011 Primary SEDOL: BD0YVN2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Agenda of Meeting Mgmt For For
5 Receive Management Board Report on Mgmt Company's and Group's Operations, Financial Statements, and Management Board Proposal on Allocation of Income
6 Receive Supervisory Board Reports on Board's Mgmt Work, Management Board Report on Company's and Group's Operations, Financial Statements, and Management Board Proposal on Allocation of Income
7 Receive Supervisory Board Requests on Mgmt Management Board Report on Company's and Group's Operations, Financial Statements, Management Board Proposal on Allocation of Income, and Discharge of Management Board Members
8.1 Approve Management Board Report on Mgmt For For Company's Operations
8.2 Approve Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
9 Approve Allocation of Income Mgmt For For
10.1 Approve Management Board Report on Group's Mgmt For For Operations
10.2 Approve Consolidated Financial Statements Mgmt For For
11.1 Approve Discharge of Szymon Piduch (CEO) Mgmt For For
Page 113 of 367
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Dino Polska S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11.2 Approve Discharge of Michal Krauze Mgmt For For (Management Board Member)
12.1 Approve Discharge of Tomasz Biernacki Mgmt For For (Supervisory Board Chairman)
12.2 Approve Discharge of Eryk Bajer (Supervisory Mgmt For For Board Member)
12.3 Approve Discharge of Pierre Detry (Supervisory Mgmt For For Board Member)
12.4 Approve Discharge of Slawomir Jakszuk Mgmt For For (Supervisory Board Member)
12.5 Approve Discharge of Piotr Nowjalis Mgmt For For (Supervisory Board Member)
12.6 Approve Discharge of Maciej Polanowski Mgmt For For (Supervisory Board Member)
12.7 Approve Discharge of Michal Rusiecki Mgmt For For (Supervisory Board Member)
12.8 Approve Discharge of Michal Kedzia Mgmt For For (Supervisory Board Member)
13.1 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on the directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
13.2 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on the directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
13.3 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on the directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
13.4 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on the directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
13.5 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on the directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
14 Close Meeting Mgmt
DMCI Holdings, Inc.
Meeting Date: 05/15/2018 Country: Philippines Meeting Type: Annual Ticker: DMC
Primary ISIN: PHY2088F1004 Primary SEDOL: 6272483
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DMCI Holdings, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve the Minutes of the Annual Mgmt For For Stockholders' Meeting Held on May 16, 2017
2 Approve the Management Report Mgmt For For
3 Ratify All Acts of the Board of Directors and Mgmt For For Officers
4 Appoint SGV & Co. as External Auditors Mgmt For For
Elect 9 Directors by Cumulative Voting Mgmt
5.1 Elect Isidro A. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
5.2 Elect Cesar A. Buenaventura as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Finally, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.3 Elect Jorge A. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.4 Elect Victor A. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.5 Elect Herbert M. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.6 Elect Ma. Edwina C. Laperal as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.7 Elect Luz Consuelo A. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
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DMCI Holdings, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.8 Elect Antonio Jose U. Periquet as Director Mgmt For Withhold
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
5.9 Elect Honorio Reyes-Lao as Director Mgmt For For
Dongfeng Motor Group Company Ltd
Meeting Date: 06/15/2018 Country: China Meeting Type: Annual Ticker: 489
Primary ISIN: CNE100000312 Primary SEDOL: B0PH5N3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 International Auditors' Report and Mgmt For For Audited Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2017 Profit Distribution Plan and Mgmt For For Authorize Board to Deal With Issues in Relation to the Distribution of Final Dividend
5 Authorize Board to Deal With All Issues in Mgmt For For Relation to the Distribution of Interim Dividend for 2018
6 Approve PricewaterhouseCoopers as Mgmt For Against International Auditors and PricewaterhouseCoopers Zhong Tian LLP as Domestic Auditors and Authorize Board to Fix Their Remuneration
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Authorize Board to Fix Remuneration of Mgmt For For Directors and Supervisors
8 Amend Articles of Association Regarding Party Mgmt For Against Committee Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
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Dongfeng Motor Group Company Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for Domestic Shares and H Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
10 Approve Resignation of Liu Weidong SH None For
Dubai Investments PJSC
Meeting Date: 04/18/2018 Country: United Arab Emirates Meeting Type: Annual Ticker: DIC
Primary ISIN: AED000601016 Primary SEDOL: 6388357
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Board Report on Company Operations Mgmt For For for FY 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Auditors' Report on Company Financial Mgmt For For Statements for FY 2017
3 Accept Consolidated Financial Statements and Mgmt For For Statutory Reports for FY 2017
4 Approve Dividends of AED 0.12 per Share for FY Mgmt For For 2017
5 Approve Remuneration of Directors Mgmt For For
6 Approve Discharge of Directors for FY 2017 Mgmt For For
7 Approve Discharge of Auditors for FY 2017 Mgmt For For
8 Allow Chairman and Directors to Engage in Mgmt For For Commercial Transactions with Competitors
9 Ratify Auditors and Fix Their Remuneration for Mgmt For Against FY 2018 Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
Duratex S.A.
Meeting Date: 04/19/2018 Country: Brazil Meeting Type: Annual Ticker: DTEX3
Primary ISIN: BRDTEXACNOR3 Primary SEDOL: B27WY88
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Duratex S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017
2 Approve Allocation of Income Mgmt For For
3 Fix Number of Directors at Nine Mgmt For For
4 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5 Elect Directors and Alternates Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
6 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 7, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
8.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Alfredo Egydio Arruda Villela Filho as Director and Ana Lucia de Mattos Barretto Villela as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Alfredo Egydio Setubal as Director and Olavo Egydio Setubal Junior as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Francisco Amaury Olsen as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
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Duratex S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.4 Percentage of Votes to Be Assigned - Elect Helio Mgmt None Abstain Seibel as Director and Andrea Laserna Seibel as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Juliana Rozenbaum Munemori as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.6 Percentage of Votes to Be Assigned - Elect Raul Mgmt None Abstain Calfat as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Ricardo Egydio Setubal as Director and Olavo Egydio Setubal Junior Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Rodolfo Villela Marino as Director and Ana Lucia de Mattos Barretto Villela as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.9 Percentage of Votes to Be Assigned - Elect Salo Mgmt None Abstain Davi Seibel as Director and Andrea Laserna Seibel as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
11 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
12 Approve Minutes of Meeting Summary Mgmt For For
13 Approve Minutes of Meeting With Exclusion of Mgmt For For Shareholder Names
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Duratex S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
14 In the Event of a Second Call, the Voting Mgmt For For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
E Ink Holdings Inc.
Meeting Date: 06/22/2018 Country: Taiwan Meeting Type: Annual Ticker: 8069
Primary ISIN: TW0008069006 Primary SEDOL: 6744283
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Plan on Profit Distribution Mgmt For For
3 Approve Amendments to Procedures Governing Mgmt For For the Acquisition or Disposal of Assets
EcoRodovias Infraestrutura e Logistica SA
Meeting Date: 04/18/2018 Country: Brazil Meeting Type: Annual Ticker: ECOR3
Primary ISIN: BRECORACNOR8 Primary SEDOL: B5720R0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Capital Budget Mgmt For For
3 Approve Allocation of Income and Dividends Mgmt For For
4 Fix Number of Directors Mgmt For For
Page 120 of 367
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EcoRodovias Infraestrutura e Logistica SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Elect Directors and Alternates Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
7 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 8, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
9.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marco Antonio Cassou as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Cesar Beltrao de Almeida as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.3 Percentage of Votes to Be Assigned - Elect Joao Mgmt None Abstain Alberto Gomes Bernacchio as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Beniamino Gavio as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Alberto Rubegni as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
EcoRodovias Infraestrutura e Logistica SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Paolo Pierantoni as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Ricardo Baldin as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Eduardo Rath Fingerl as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.9 Percentage of Votes to Be Assigned - Elect Joao Mgmt None Abstain Francisco Rached de Oliveira as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.10 Percentage of Votes to Be Assigned - Elect Eros Mgmt None Abstain Gradowski Junior as Alternate Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.11 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marcello Gavio as Alternate Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.12 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Nereu Miguel Ribeiro Domingues as Alternate Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9.13 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Umberto Tosoni as Alternate Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
11 Approve Remuneration of Company's Mgmt For For Management
12 Rectify and Ratify Remuneration of Company's Mgmt For For Management for 2017
13 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should ensure the names of director candidates put forward by minority shareholders are fully disclosed in the ballot
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EcoRodovias Infraestrutura e Logistica SA
Meeting Date: 04/18/2018 Country: Brazil Meeting Type: Special Ticker: ECOR3
Primary ISIN: BRECORACNOR8 Primary SEDOL: B5720R0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles Mgmt For For
2 Consolidate Bylaws Mgmt For For
EcoRodovias Infraestrutura e Logistica SA
Meeting Date: 04/20/2018 Country: Brazil Meeting Type: Special Ticker: ECOR3
Primary ISIN: BRECORACNOR8 Primary SEDOL: B5720R0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Determine How the Company Will Vote on the Mgmt For For Shareholders' Meeting of EcoRodovias Concessoes e Servicos S.A.: Approve Acquisition of Concessionaria de Rodovias Minas Gerais Goias S.A. Via the Acquisition of Argovias Administracao e Participacoes S.A.
2 Determine How the Company Will Vote on the Mgmt For For Shareholders' Meeting of EcoRodovias Concessoes e Servicos S.A.: Ratify Mazars Cabrera Assessoria, Consultoria e Planejamento Empresarial Ltda. as the Independent Firm to Appraise Proposed Transaction
3 Determine How the Company Will Vote on the Mgmt For For Shareholders' Meeting of EcoRodovias Concessoes e Servicos S.A.: Approve Independent Firm's Appraisal
4 Determine How the Company Will Vote on the Mgmt For For Shareholders' Meeting of EcoRodovias Concessoes e Servicos S.A.: Authorize Board to Ratify and Execute Approved Resolutions
Page 123 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
EDP - Energias Do Brasil SA
Meeting Date: 04/04/2018 Country: Brazil Meeting Type: Special Ticker: ENBR3
Primary ISIN: BRENBRACNOR2 Primary SEDOL: B0D7494
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles Mgmt For Against
Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights. Furthermore, it is inappropriate for several voting items to be bundled into one resolution. Shareholders should be able to vote each item separately.
EDP - Energias Do Brasil SA
Meeting Date: 04/04/2018 Country: Brazil Meeting Type: Annual Ticker: ENBR3
Primary ISIN: BRENBRACNOR2 Primary SEDOL: B0D7494
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Capital Budget, Allocation of Income Mgmt For For and Dividends
3 Fix Number of Directors at Eight Mgmt For For
4 Approve Remuneration of Company's Mgmt For For Management
5 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
6 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 124 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
EDP - Energias Do Brasil SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Elect Directors Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
9 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 10, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
11.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Antonio Luis Guerra Nunes Mexia as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Miguel Nuno Simoes Nunes Ferreira Setas as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Miguel Stilwell de Andrade as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.4 Percentage of Votes to Be Assigned - Elect Joao Mgmt None Abstain Manuel Verissimo Marques da Cruz as Director
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Pedro Sampaio Malan as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
EDP - Energias Do Brasil SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Francisco Carlos Coutinho Pitella as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Modesto Souza Barros Carvalhosa as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Juliana Rozenbaum Munemori as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Eletrobras, Centrais Eletricas Brasileiras S.A.
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: ELET6
Primary ISIN: BRELETACNPB7 Primary SEDOL: 2308445
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income Mgmt For For
3 Elect Mauro Gentile Rodrigues Cunha as Mgmt For For Director
4 Elect Manoel Arlindo Zaroni Torres as Director Mgmt For For
5 Elect Jose Guimaraes Monforte as Board Mgmt For For Chairman Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
6 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Members Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Elite Advanced Laser Corp.
Meeting Date: 06/22/2018 Country: Taiwan Meeting Type: Annual Ticker: 3450
Primary ISIN: TW0003450003 Primary SEDOL: B07NLN1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Consolidated Business Operations Mgmt For For Report, Consolidated Financial Statements and Individual Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Likewise, companies should develop and disclose a policy aimed at encouraging greater diversity, including gender, at the board and executive management levels, and throughout the organisation.
2 Approve Profit Distribution Mgmt For For
3 Approve Issuance of New Shares by Mgmt For For Capitalization of Profit
Elite Materials Company
Meeting Date: 06/14/2018 Country: Taiwan Meeting Type: Annual Ticker: 2383
Primary ISIN: TW0002383007 Primary SEDOL: 6316121
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Amend Procedures for Lending Funds to Other Mgmt For For Parties
Emaar Properties PJSC
Meeting Date: 04/22/2018 Country: United Arab Emirates Meeting Type: Annual Ticker: EMAAR
Primary ISIN: AEE000301011 Primary SEDOL: B01RM25
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Emaar Properties PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Business Mgmt
1 Approve Board Report on Company Operations Mgmt For For for FY 2017
2 Approve Auditors' Report on Company Financial Mgmt For For Statements for FY 2017
3 Accept Financial Statements and Statutory Mgmt For For Reports for FY 2017
4 Approve Dividends of AED 0.14 per Share for FY Mgmt For For 2017
5 Approve Remuneration of Directors of AED Mgmt For Against 38.63 Million for FY 2017 Voter Rationale: In the absence of a rationale justifying the repeated increase in directors' fees, we do not support this proposal.
6 Approve Discharge of Directors for FY 2017 Mgmt For For
7 Approve Discharge of Auditors for FY 2017 Mgmt For For
8 Ratify Auditors and Fix Their Remuneration for Mgmt For For FY 2018
Extraordinary Business Mgmt
9 Amend Articles 19.a and 29 of Bylaws Re: Mgmt For For Decrease Board Size, Resolutions by Circulation
Ordinary Business Mgmt
10.1 Elect Mohamed Alabbar as Director Mgmt None For
10.2 Elect Hussain Al Qemzi as Director Mgmt None Abstain
10.3 Elect Ahmad Al Matrooshi as Director Mgmt None For
10.4 Elect Ahmed Jawa as Director Mgmt None For
10.5 Elect Jamal Theniyah as Director Mgmt None For
10.6 Elect Arif Al Mehairi as Director Mgmt None For
10.7 Elect Abdulrahman Al Hareb as Director Mgmt None Abstain
10.8 Elect Abdullah Belyoahah as Director Mgmt None Abstain
10.9 Elect Jamal Al Marri as Director Mgmt None Abstain
10.10 Elect Raja Al Gurg as Director Mgmt None For
10.11 Elect Mona Al Bastaki as Director Mgmt None Abstain
10.12 Elect Eman Al Suwaidi as Director Mgmt None Abstain
10.13 Elect Laila Al Mheiri as Director Mgmt None Abstain
Page 128 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Emaar Properties PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10.14 Elect Bassam Falah as Director Mgmt None Abstain
10.15 Elect Mustafa Al Sheryani as Director Mgmt None For
10.16 Elect Jassim Al Ali as Director Mgmt None For
10.17 Elect Hala Badri as Director Mgmt None Abstain
10.18 Elect Mariam Al Rasasi as Director Mgmt None For
11 Allow Directors to Engage in Commercial Mgmt For For Transactions with Other Companies
Extraordinary Business Mgmt
12 Approve the Company's Employees Incentive Mgmt For For Shares Scheme
13 Approve Donations for FY 2016 and FY 2017 Mgmt For For and Approve Donations for FY 2018 Up to 2 Percent of Average Net Profits of FY 2016 and FY 2017
Embotelladora Andina S.A.
Meeting Date: 04/19/2018 Country: Chile Meeting Type: Annual Ticker: ANDINA-B
Primary ISIN: CLP3697S1034 Primary SEDOL: 2311454
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income and Dividends Mgmt For For
3 Present Dividend Policy Mgmt For For
4 Elect Directors Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5 Approve Remuneration of Directors, Directors' Mgmt For For Committee and Audit Committee Members, their Annual Reports and Expenses Incurred by both Committees
6 Appoint Auditors Mgmt For For
7 Designate Risk Assessment Companies Mgmt For For
Page 129 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Embotelladora Andina S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Receive Report Regarding Related-Party Mgmt For For Transactions
9 Designate Newspaper to Publish Meeting Mgmt For For Announcements
10 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
eMemory Technology Inc.
Meeting Date: 06/14/2018 Country: Taiwan Meeting Type: Annual Ticker: 3529
Primary ISIN: TW0003529004 Primary SEDOL: B2PXYH2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Consolidated and Individual Financial Statements Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Plan on Profit Distribution Mgmt For For
3 Approve Cash Distribution from Capital Reserve Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect Charles Hsu with Shareholder No. 3 as Mgmt For For Non-Independent Director
4.2 Elect Li-Jeng Chen with Shareholder No. 18728 Mgmt For For as Non-Independent Director
4.3 Elect Mu-Chuan Hsu with Shareholder No. 110 Mgmt For For as Non-Independent Director
4.4 Elect Teresa Cheng, Representative of How-Han Mgmt For For Investment Corporation, with Shareholder No. 532 as Non-Independent Director
4.5 Elect Jason Hsu, Representative of How-Han Mgmt For For Investment Corporation, with Shareholder No. 532 as Non-Independent Director
4.6 Elect Rick Shen with Shareholder No. 146 as Mgmt For For Non-Independent Director
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018 eMemory Technology Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.7 Elect Kenneth Kin with ID No. F102831XXX as Mgmt For For Independent Director
4.8 Elect Ming-To Yu with ID No. A121533XXX as Mgmt For Against Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.9 Elect T.C. Chen with ID No. T101616XXX as Mgmt For For Independent Director
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Charles Hsu
6 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Mu-Chuan Hsu
7 Approve Release of Restrictions of Competitive Mgmt For For Activities of the Representative of How-Han Investment Corporation
8 Approve Release of Restrictions of Competitive Mgmt For For Activities of the Representative of How-Han Investment Corporation Director Teresa Cheng
9 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Kenneth Kin
10 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director Ming-To Yu
11 Approve Release of Restrictions of Competitive Mgmt For For Activities of Director T.C. Chen
Empresas Copec S.A.
Meeting Date: 04/25/2018 Country: Chile Meeting Type: Annual Ticker: COPEC
Primary ISIN: CLP7847L1080 Primary SEDOL: 2196026
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
a Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
b Elect Directors Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. Moreover, the board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
Page 131 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Empresas Copec S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
c Receive Report Regarding Related-Party Mgmt For For Transactions
d Approve Remuneration of Directors Mgmt For For
e Approve Remuneration and Budget of Directors' Mgmt For For Committee; Present Report on Directors' Committee Activities
f Appoint Auditors and Designate Risk Mgmt For Against Assessment Companies Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
g Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Empresas Copec S.A.
Meeting Date: 05/16/2018 Country: Chile Meeting Type: Special Ticker: COPEC
Primary ISIN: CLP7847L1080 Primary SEDOL: 2196026
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
a Approve Organizational Changes; Approve Loan Mgmt For For Guarantees in Favor of Ausenco Peru SAC Re: Mina Justa Project
b Consolidate Bylaws; Adopt All Necessary Mgmt For Against Agreements to Execute, Legalize and Formalize Amendments to Articles Approved by General Meeting Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Energa SA
Meeting Date: 06/27/2018 Country: Poland Meeting Type: Annual Ticker: ENG
Primary ISIN: PLENERG00022 Primary SEDOL: BGQYBX7
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Energa SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Management Proposals Mgmt
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Recording of AGM Mgmt For For
5 Approve Agenda of Meeting Mgmt For For
6 Approve Management Board Report on Mgmt For For Company's Operations
7 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
8 Approve Allocation of Income Mgmt For For
9.1 Approve Discharge of Dariusz Kaskow (Former Mgmt For For CEO)
9.2 Approve Discharge of Mariusz Redaszka (Former Mgmt For For Deputy CEO)
9.3 Approve Discharge of Grzegorz Ksepko (Deputy Mgmt For For CEO)
9.4 Approve Discharge of Przemyslaw Piesiewicz Mgmt For For (Former Deputy CEO)
9.5 Approve Discharge of Mariola Zmudzinska Mgmt For For (Former Deputy CEO)
9.6 Approve Discharge of Jacek Koscielniak (Deputy Mgmt For For CEO)
9.7 Approve Discharge of Alicja Klimiuk (Deputy Mgmt For For CEO)
9.8 Approve Discharge of Daniel Obajtek (CEO) Mgmt For For
10.1 Approve Discharge of Paula Ziemiecka-Ksiezak Mgmt For For (Supervisory Board Member)
10.2 Approve Discharge of Zbigniew Wtulich Mgmt For For (Supervisory Board Member)
10.3 Approve Discharge of Agnieszka Mgmt For For Terlikowska-Kulesza (Supervisory Board Member)
10.4 Approve Discharge of Maciej Zoltkiewicz Mgmt For For (Supervisory Board Member)
10.5 Approve Discharge of Andrzej Powalowski Mgmt For For (Supervisory Board Member)
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Energa SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10.6 Approve Discharge of Marek Szczepaniec Mgmt For For (Supervisory Board Member)
10.7 Approve Discharge of Jacek Koscielniak Mgmt For For (Supervisory Board Member)
11 Approve Management Board Report on Group's Mgmt For For Operations
12 Approve Consolidated Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
13 Amend Regulations on General Meetings Mgmt For For
Shareholder Proposal Mgmt
14 Amend Statute Re: Management Board SH None Against
Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Management Proposal Mgmt
15 Close Meeting Mgmt
Energisa S.A.
Meeting Date: 04/25/2018 Country: Brazil Meeting Type: Special Ticker: ENGI3
Primary ISIN: BRENGIACNPR7 Primary SEDOL: B1VZ022
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
2 Amend Articles Mgmt For For
3 Consolidate Bylaws Mgmt For For
4 Approve Long-Term Incentive Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
5 Amend Article 6 to Reflect Changes in Mgmt For For Authorized Capital
Page 134 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Energisa S.A.
Meeting Date: 04/25/2018 Country: Brazil Meeting Type: Annual Ticker: ENGI3
Primary ISIN: BRENGIACNPR7 Primary SEDOL: B1VZ022
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Holders of Units - BRENGICDAM16 Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income Mgmt For For
3 Fix Number of Alternate Directors Mgmt For For
4 Elect Directors Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
5 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 6, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
7.1 Percentage of Votes to Be Assigned - Elect Ivan Mgmt None Abstain Muller Botelho as Director and Mauricio Perez Botelho as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Ricardo Perez Botelho as Director and Marcelo Silveira da Rocha as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
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Energisa S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marcilio Marques Moreira as Director and Andre La Saigne de Botton as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Omar Carneiro da Cunha Sobrinho as Director and Andre La Saigne de Botton as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Antonio Jose de Almeida Carneiro as Director and Pedro Boardman Carneiro as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.6 Percentage of Votes to Be Assigned - Elect Luiz Mgmt None Abstain Henrique Fraga as Director and Leonardo Prado Damiao as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Elect Jose Luiz Alqueres as Director and SH None For Guilherme Fernandes Cezar Coelho as Alternate Appointed by Preferred Shareholder
9 In Case Neither Class of Shares Reaches the Mgmt None For Minimum Quorum Required by the Brazilian Corporate Law to Elect a Board Representative in Separate Elections, Would You Like to Use Your Votes to Elect the Candidate with More Votes to Represent Both Classes?
10 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
11 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
12 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
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ENGIE Brasil Energia SA
Meeting Date: 04/11/2018 Country: Brazil Meeting Type: Annual Ticker: EGIE3
Primary ISIN: BREGIEACNOR9 Primary SEDOL: BD1WX84
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017
2 Approve Allocation of Income and Dividends Mgmt For For
3 Approve Employees' Bonuses Mgmt For For
4 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Members Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
5 Elect Directors and Alternates Mgmt For Against
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
6 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 7, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
8.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Mauricio Stolle Bahr as Director and Natacha Herero Et Guichard Marly as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.2 Percentage of Votes to Be Assigned - Elect Dirk Mgmt None Abstain Achiel Marc Beeuwsaert as Director and Gil de Methodio Maranhao Neto as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
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ENGIE Brasil Energia SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Manoel Arlindo Zaroni Torres as Director and Karin Koogan Breitman as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Pierre Jean Bernard Guiollot as Director and Simone Cristina de Paola Barbieri as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Paulo Jorge Tavares Almirante as Director and Raphael Vincent Philippe Barreau as Alternate
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Claude Emile Jean Turbet as Director and Leonardo Augusto Serpa as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Paulo de Resende Salgado as Director and Antonio Alberto Gouvea Vieira as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Roberto Henrique Tejada Vencato as Director and Luiz Antonio Barbosa as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.9 Percentage of Votes to Be Assigned - Elect Jose Mgmt None Abstain Pais Rangel as Director and Jose Joao Abdalla Filho as Alternate Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 Elect Fiscal Council Members and Alternates Mgmt For For
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ENGIE Brasil Energia SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Epistar Corp.
Meeting Date: 06/21/2018 Country: Taiwan Meeting Type: Annual Ticker: 2448
Primary ISIN: TW0002448008 Primary SEDOL: 6354154
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Approve Cash Distribution from Capital Reserve Mgmt For For
4 Approve Issuance of Ordinary Shares or Mgmt For Against Issuance of Ordinary Shares via Private Placement to Participate in the Issuance of Global Depository Receipt Voter Rationale: This plan could lead to excessive dilution. In addition, any issuance of shares at a significant discount to the market price should be approved by shareholders prior to such issuance and not as a part of routine share issuance authorities.
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
Erste Group Bank AG
Meeting Date: 05/24/2018 Country: Austria Meeting Type: Annual Ticker: EBS
Primary ISIN: AT0000652011 Primary SEDOL: 5289837
Page 139 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Erste Group Bank AG
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Receive Financial Statements and Statutory Mgmt Reports (Non-Voting)
2 Approve Allocation of Income and Dividends of Mgmt For For EUR 1.20 per Share
3 Approve Discharge of Management Board Mgmt For For
4 Approve Discharge of Supervisory Board Mgmt For For
5 Approve Remuneration of Supervisory Board Mgmt For For Members
6 Ratify PwC Wirtschaftspruefung GmbH as Mgmt For For Auditors
7 Approve Decrease in Size of Supervisory Board Mgmt For For to Eleven Members
8 Approve Issuance of Warrants/Bonds with Mgmt For Against Warrants Attached/Convertible Bonds without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9 Approve Creation of EUR 343.6 Million Pool of Mgmt For Against Capital with Partial Exclusion of Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
10 Amend Articles to Reflect Changes in Capital Mgmt For Against
Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Estacio Participacoes SA
Meeting Date: 04/18/2018 Country: Brazil Meeting Type: Annual Ticker: ESTC3
Primary ISIN: BRESTCACNOR5 Primary SEDOL: B23PBF7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017
2 Approve Allocation of Income and Dividends Mgmt For For
3 Fix Number of Directors Mgmt For For
Page 140 of 367
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Estacio Participacoes SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
5 Elect Directors Mgmt For For
6 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate?
7 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate?
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 7, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
8.1 Percentage of Votes to Be Assigned - Elect Juan Mgmt None Abstain Pablo Zucchini as Director
8.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Brenno Raiko de Souza as Director
8.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Mauricio Luis Lucchetti as Director
8.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Libano Miranda Barroso as Director
8.5 Percentage of Votes to Be Assigned - Elect Igor Mgmt None Abstain Xavier Correia Lima as Director
8.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Flavio Benicio Jansen Ferreira as Director
8.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Jackson Medeiros de Farias Schneider as Director
8.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Osvaldo Burgos Schirmer as Director
8.9 Percentage of Votes to Be Assigned - Elect Luiz Mgmt None Abstain Roberto Liza Curi as Director
9 Approve Remuneration of Company's Mgmt For For Management
10 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
11 Elect Fiscal Council Members Mgmt For For
12 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?
Page 141 of 367
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Estacio Participacoes SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
13 Approve Remuneration of Fiscal Council Mgmt For For Members
14 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
Etalon Group Public Company Limited
Meeting Date: 05/25/2018 Country: Cyprus Meeting Type: Annual Ticker: ETLN
Primary ISIN: US29760G1031 Primary SEDOL: B5TWX80
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Dividends Mgmt For For
3 Ratify Auditors Mgmt For Against
Voter Rationale: Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
4 Approve Remuneration of External Auditors Mgmt For Against
Voter Rationale: Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
5 Re-elect Viacheslav Adamovich Zarenkov as Mgmt For Against Director Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Then, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
6 Re-elect Charalampos Avgousti as Director Mgmt For For
7 Re-elect Kirill Bagachenko as Director Mgmt For For
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 142 of 367
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Etalon Group Public Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Re-elect Maksim Berlovich as Director Mgmt For For
9 Re-elect Martin Robert Cocker as Director Mgmt For For
10 Re-elect Alexey Kalinin as Director Mgmt For Against
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Then, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
11 Re-elect Dmitry Kashinskiy as Director Mgmt For For
12 Re-elect Boris Svetlichny as Director Mgmt For Against
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
13 Re-elect Dmitry Viacheslavovich Zarenkov as Mgmt For Against Director Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Then, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
Exxaro Resources Ltd
Meeting Date: 05/24/2018 Country: South Africa Meeting Type: Annual Ticker: EXX
Primary ISIN: ZAE000084992 Primary SEDOL: 6418801
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1.1 Re-elect Monhla Hlahla as Director Mgmt For For
1.2 Elect Daphne Mashile-Nkosi as Director Mgmt For For
1.3 Elect Likhapha Mbatha as Director Mgmt For For
1.4 Re-elect Zwelibanzi Mntambo as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
1.5 Re-elect Vuyisa Nkonyeni as Director Mgmt For For
1.6 Elect Anuradha Sing as Director Mgmt For For
1.7 Re-elect Jeff van Rooyen as Director Mgmt For For
Page 143 of 367
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Exxaro Resources Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.1 Elect Ras Myburgh as Member of the Audit Mgmt For For Committee
2.2 Re-elect Vuyisa Nkonyeni as Member of the Mgmt For For Audit Committee
2.3 Re-elect Jeff van Rooyen as Member of the Mgmt For For Audit Committee
3.1 Elect Likhapha Mbatha as Member of the Social Mgmt For For and Ethics Committee
3.2 Elect Anuradha Sing as Member of the Social Mgmt For For and Ethics Committee
3.3 Elect Peet Snyders as Member of the Social and Mgmt For For Ethics Committee
4 Reappoint PricewaterhouseCoopers Mgmt For For Incorporated as Auditors of the Company and Appoint TD Shango as the Designated Audit Partner
5 Authorise Board to Issue Shares for Cash Mgmt For For
6 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
7 Authorise Ratification of Approved Resolutions Mgmt For For
Special Resolutions Mgmt
1 Approve Non-executive Directors' Fees Mgmt For For
2 Adopt New Memorandum of Incorporation Mgmt For Against
Voter Rationale: Changes in company's memorandum of incorporation should not result in the erosion of shareholder rights. All directors, executive and non-executive, should be elected by shareholders and should submit themselves for re-election at regular intervals in order to ensure that the board retains an open and critical perspective. Failure to ensure that executive directors retire by rotation alongside non-executive directors will weaken the accountability of the board to its shareholders and lead to a reduction in shareholder rights.
3 Authorise Repurchase of Issued Share Capital Mgmt For Against
Voter Rationale: Any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company.
Non-Binding Advisory Votes Mgmt
1 Approve Remuneration Policy Mgmt For Against
2 Approve Implementation Report of the Mgmt For Against Remuneration Policy Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
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Exxaro Resources Ltd
Meeting Date: 05/24/2018 Country: South Africa Meeting Type: Special Ticker: EXX
Primary ISIN: ZAE000084992 Primary SEDOL: 6418801
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Disposal of All the Remaining Tronox Mgmt For For Shares
2 Authorise Ratification of Approved Resolution Mgmt For For
Far Eastern New Century Corp
Meeting Date: 06/29/2018 Country: Taiwan Meeting Type: Annual Ticker: 1402
Primary ISIN: TW0001402006 Primary SEDOL: 6331470
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect Douglas Tong Hsu, with Shareholder No. Mgmt For For 0000008, as Non-Independent Director Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
4.2 Elect Johnny Hsi, Representative of Asia Cement Mgmt For For Corp., with Shareholder No. 0000319, as Non-Independent Director Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
4.3 Elect Peter Hsu, Representative of Asia Cement Mgmt For For Corp., with Shareholder No. 0000319, as Non-Independent Director Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
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Far Eastern New Century Corp
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.4 Elect Shaw Y. Wang, Representative of Asia Mgmt For For Cement Corp., with Shareholder No. 0000319, as Non-Independent Director
4.5 Elect Raymond Hsu, Representative of Asia Mgmt For For Cement Corp., with Shareholder No. 0000319, as Non-Independent Director
4.6 Elect Richard Yang, Representative of Far Mgmt For For Eastern Department Stores Ltd., with Shareholder No. 0000844, as Non-Independent Director
4.7 Elect Tonia Katherine Hsu, Representative of Far Mgmt For For Eastern Department Stores Ltd., with Shareholder No. 0000844, as Non-Independent Director
4.8 Elect Kwan-Tao Li, Representative of U-Ming Mgmt For For Marine Transport Corp., with Shareholder No. 0021778, as Non-Independent Director
4.9 Elect Alice Hsu, Representative of U-Ming Mgmt For For Marine Transport Corp., with Shareholder No. 0021778, as Non-Independent Director
4.10 Elect Champion Lee, Representative of Yue Ding Mgmt For For Investment Co., Ltd., with Shareholder No. 0118441, as Non-Independent Director Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
4.11 Elect Bing Shen, with ID No. A110904XXX, as Mgmt For For Independent Director
4.12 Elect Johnsee Lee, with ID No. P100035XXX, as Mgmt For For Independent Director
4.13 Elect Sheng-Cheng Hu, with ID No. Mgmt For For G101118XXX, as Independent Director
5 Approve Release of the Relevant Directors from Mgmt For For the Non-Competition Restriction Under Article 209 of the Company Act
Feng Tay Enterprises Co., Ltd.
Meeting Date: 06/28/2018 Country: Taiwan Meeting Type: Annual Ticker: 9910
Primary ISIN: TW0009910000 Primary SEDOL: 6336055
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Feng Tay Enterprises Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
4 Amend Rules and Procedures Regarding General Mgmt For For Meetings of Shareholders
5 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
6 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
ELECT 9 OUT OF 10 NON-INDEPENDENT Mgmt DIRECTORS AND 4 OUT OF 5 INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
7.1 Elect Wang Jian Hong with Shareholder No. 3 as Mgmt For Do Not Vote Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.2 Elect Wang Jian Rong with Shareholder No. 4 as Mgmt For For Non-independent Director
7.3 Elect Chen Hui Ling with Shareholder No. 17 as Mgmt For Against Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.4 Elect Cai Xi Jin with ID No. Q100694XXX as Mgmt For Against Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.5 Elect Peter Dale Nickerson with Shareholder No. Mgmt For Against 57128 as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.6 Elect Chen Zhao Ji with Shareholder No. 38202 Mgmt For For as Non-independent Director
7.7 Elect Chen Shi Rong with Shareholder No. 16 as Mgmt For Against Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.8 Elect Lu Zong Da with Shareholder No. 18 as Mgmt For Against Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
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Feng Tay Enterprises Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.9 Elect Zhong Yi Hua with ID No. Q120042XXX as Mgmt For Against Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.10 Elect Wang Qiu Xiong with Shareholder No. 6 as Mgmt For Against Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7.11 Elect Huang Hao Jian with ID No. P101154XXX Mgmt For For as Independent Director
7.12 Elect Lin Zhong Yi with ID No. S120772XXX as Mgmt For For Independent Director
7.13 Elect Lu You Sheng with ID No. V120131XXX as Mgmt For For Independent Director
7.14 Elect Li Xue Cheng with ID No. F121943XXX as Mgmt For For Independent Director
7.15 Elect Chen Min Sheng with ID No. E220472XXX Mgmt For For as Independent Director
8 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors
First Financial Holding Co. Ltd.
Meeting Date: 06/22/2018 Country: Taiwan Meeting Type: Annual Ticker: 2892
Primary ISIN: TW0002892007 Primary SEDOL: 6580119
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Consolidated Financial Statements
2 Approve Profit Distribution Mgmt For For
3 Approve the Issuance of New Shares by Mgmt For For Capitalization of Profit
ELECT 12 OUT OF 14 NON-INDEPENDENT Mgmt DIRECTORS AND INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect Ray-Beam Dawn, Representative of Mgmt For Against Ministry of Finance with Shareholder No. 1250015, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 148 of 367
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First Financial Holding Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.2 Elect Chien-Hao Lin, Representative of Ministry Mgmt For For of Finance with Shareholder No. 1250015, as Non-independent Director
4.3 Elect Meei-Ling Jeng, Representative of Ministry Mgmt For For of Finance with Shareholder No. 1250015, as Non-independent Director
4.4 Elect Shing-Rong Lo, Representative of Ministry Mgmt For Do Not Vote of Finance with Shareholder No. 1250015, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.5 Elect Doris Wang, Representative of Ministry of Mgmt For Do Not Vote Finance with Shareholder No. 1250015, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.6 Elect Hung-Ju Chen, Representative of Ministry Mgmt For Against of Finance with Shareholder No. 1250015, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.7 Elect Li-Chiung Su, Representative of Ministry of Mgmt For Against Finance with Shareholder No. 1250015, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.8 Elect Shwu-Mei Shiue Chou, Representative of Mgmt For Against Ministry of Finance with Shareholder No. 1250015, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.9 Elect Yi-Shun Chang, Representative of Ministry Mgmt For Against of Finance with Shareholder No. 1250015, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.10 Elect Chi-Pin Hou, Representative of Ministry of Mgmt For Against Finance with Shareholder No. 1250015, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.11 Elect Chuan-Chuan Hsieh, Representative of Mgmt For Against Bank of Taiwan with Shareholder No. 1250012, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
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First Financial Holding Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.12 Elect Sheryl C.Y. Huang, Representative of Bank Mgmt For Against of Taiwan with Shareholder No. 1250012, as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.13 Elect a Representative of Golden Gate Mgmt For Against Investment Co., Ltd. with Shareholder No. 4675749 as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.14 Elect a Representative of Global Vision Mgmt For Against Investment Co., Ltd. with Shareholder No. 4562879 as Non-independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.15 Elect Yen-Liang Chen with ID No. D120848XXX Mgmt For For as Independent Director
4.16 Elect Rachel J. Huang with ID No. J221239XXX Mgmt For For as Independent Director
4.17 Elect Chun-Hung Lin with ID No. J120418XXX as Mgmt For For Independent Director
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
First Quantum Minerals Ltd.
Meeting Date: 05/03/2018 Country: Canada Meeting Type: Annual Ticker: FM
Primary ISIN: CA3359341052 Primary SEDOL: 2347608
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Fix Number of Directors at Eight Mgmt For For
2.1 Elect Director Philip K.R. Pascall Mgmt For For
Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability.
2.2 Elect Director G. Clive Newall Mgmt For For
2.3 Elect Director Kathleen A. Hogenson Mgmt For For
Page 150 of 367
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First Quantum Minerals Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.4 Elect Director Peter St. George Mgmt For Withhold
Voter Rationale: Directors with long board tenures should not serve on committees that require absolute independence. The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.5 Elect Director Andrew B. Adams Mgmt For For
2.6 Elect Director Paul Brunner Mgmt For For
2.7 Elect Director Robert Harding Mgmt For For
2.8 Elect Director Simon Scott Mgmt For For
3 Approve PricewaterhouseCoopers LLP (UK) as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
4 Advisory Vote on Executive Compensation Mgmt For Against Approach Voter Rationale: Severance payments should not exceed two year’s pay. Larger severance packages should be subject to a separate shareholder approval. Also, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Fleury S.A.
Meeting Date: 04/23/2018 Country: Brazil Meeting Type: Annual Ticker: FLRY3
Primary ISIN: BRFLRYACNOR5 Primary SEDOL: B4X4D29
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Ratify Distribution of Dividends and Mgmt For For Interest-on-Capital-Stock Payments
3 Approve Allocation of Income Mgmt For For
4.1 Elect Ivan Luiz Gontijo Junior as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.2 Elect Andrea da Motta Chamma as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Page 151 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Fleury S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.3 Elect Octavio de Lazari Junior as Alternate Mgmt For For Director
5 Approve Remuneration of Company's Mgmt For For Management
6 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
7 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
Formosa Chemicals & Fibre Corporation
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 1326
Primary ISIN: TW0001326007 Primary SEDOL: 6348715
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
4 Amend Trading Procedures Governing Mgmt For For Derivatives Products
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
5.1 Elect Wen Yuan Wong with Shareholder No. Mgmt For For 327181 as Non-independent Director Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
5.2 Elect Fu Yuan Hong with Shareholder No. 498 Mgmt For For as Non-independent Director
5.3 Elect Wilfred Wang with Shareholder No. 8 as Mgmt For For Non-independent Director
5.4 Elect Ruey Yu Wang, Representative of Nan Ya Mgmt For For Plastics Corporation with Shareholder No. 3354, as Non-independent Director
Page 152 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Formosa Chemicals & Fibre Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.5 Elect Walter Wang, Representative of Formosa Mgmt For Against Petrochemical Corporation with Shareholder No. 234888, as Non-independent Director
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
5.6 Elect Dong Terng Huang with Shareholder No. Mgmt For For 269918 as Non-independent Director
5.7 Elect Ing Dar Fang with Shareholder 298313 as Mgmt For For Non-independent Director
5.8 Elect Wen Chin Lu with Shareholder No. 289911 Mgmt For For as Non-independent Director
5.9 Elect Ching Fen Lee with ID No. A122251XXX as Mgmt For For Non-independent Director
5.10 Elect Jin Hua Pan with ID No. T102349XXX as Mgmt For For Non-independent Director
5.11 Elect Wei Keng Chien with ID No. M120163XXX Mgmt For For as Non-independent Director
5.12 Elect Tsung Yuan Chang with ID No. Mgmt For For C101311XXX as Non-independent Director
5.13 Elect Ruey Long Chen with ID No. Q100765XXX Mgmt For Against as Independent Director Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
5.14 Elect Hwei Chen Huang with ID No. Mgmt For For N103617XXX as Independent Director
5.15 Elect Tai Lang Chien with ID No. T102591XXX Mgmt For For as Independent Director
6 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Directors Voter Rationale: Companies should clearly disclose the business benefits cross directorships will bring, or how conflicts of interest or competition concerns will be managed if these directors engage in business activities with competitors.
Fosun International Ltd
Meeting Date: 06/06/2018 Country: Hong Kong Meeting Type: Annual Ticker: 656
Primary ISIN: HK0656038673 Primary SEDOL: B1Z7FX0
Page 153 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Fosun International Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Wang Qunbin as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Moreover, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.2 Elect Chen Qiyu as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.3 Elect Xu Xiaoliang as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.4 Elect Qin Xuetang as Director Mgmt For For
3.5 Elect Zhang Shengman as Director Mgmt For For
3.6 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
8 Approve Grant of Options and Issuance of Mgmt For Against Shares Under the Share Option Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Also, this plan could lead to excessive dilution. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
Page 154 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Fosun International Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9a Approve Issuance of New Award Shares to Mgmt For Against Computershare Hong Kong Trustees Limited to Hold on Trust For Selected Participants For Participation in the Share Award Scheme and Related Transactions
Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9b Approve Grant of Award Shares to Chen Qiyu Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9c Approve Grant of Award Shares to Xu Xiaoliang Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9d Approve Grant of Award Shares to Qin Xuetang Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9e Approve Grant of Award Shares to Wang Can Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9f Approve Grant of Award Shares to Kang Lan Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
Page 155 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Fosun International Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9g Approve Grant of Award Shares to Gong Ping Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9h Approve Grant of Award Shares to Zhang Mgmt For Against Shengman Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9i Approve Grant of Award Shares to Zhang Mgmt For Against Huaqiao Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9j Approve Grant of Award Shares to David T. Mgmt For Against Zhang Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9k Approve Grant of Award Shares to Yang Chao Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9l Approve Grant of Award Shares to Lee Kai-Fu Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
Page 156 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Fosun International Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9m Approve Grant of Award Shares to Zhang Houlin Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9n Approve Grant of Award Shares to Li Tao Under Mgmt For Against the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9o Approve Grant of Award Shares to Qian Mgmt For Against Jiannong Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9p Approve Grant of Award Shares to Wang Jiping Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9q Approve Grant of Award Shares to Li Jun Under Mgmt For Against the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9r Approve Grant of Award Shares to Yu Xiaodong Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
Page 157 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Fosun International Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9s Approve Grant of Award Shares to Wu Xiaoyong Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9t Approve Grant of Award Shares to Chi Xiaolei Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9u Approve Grant of Award Shares to Xu Lingjiang Mgmt For Against Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9v Approve Grant of Award Shares to Pei Yu Under Mgmt For Against the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9w Approve Grant of Award Shares to Other Mgmt For Against Selected Participants Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
9x Authorize Board to Deal With All Matters in Mgmt For Against Relation to the Issuance of the New Award Shares Under the Share Award Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Moreover, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
Page 158 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Foxconn Technology Co. Ltd
Meeting Date: 06/22/2018 Country: Taiwan Meeting Type: Annual Ticker: 2354
Primary ISIN: TW0002354008 Primary SEDOL: 6801779
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
Galaxy Entertainment Group Ltd.
Meeting Date: 05/03/2018 Country: Hong Kong Meeting Type: Annual Ticker: 27
Primary ISIN: HK0027032686 Primary SEDOL: 6465874
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Companies should develop and disclose a policy aimed at encouraging greater diversity, including gender, at the board and executive management levels, and throughout the organisation.
2.1 Elect Francis Lui Yiu Tung as Director Mgmt For For
Voter Rationale: The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.2 Elect Patrick Wong Lung Tak as Director Mgmt For Against
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
2.3 Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
4.1 Authorize Repurchase of Issued Share Capital Mgmt For For
4.2 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Page 159 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Galaxy Entertainment Group Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.3 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Galp Energia, SGPS S.A.
Meeting Date: 05/15/2018 Country: Portugal Meeting Type: Annual Ticker: GALP
Primary ISIN: PTGAL0AM0009 Primary SEDOL: B1FW751
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Standalone and Consolidated Financial Mgmt For For Statements and Statutory Reports Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income Mgmt For For
3 Approve Discharge of Board Mgmt For For
4 Approve Discharge of Supervisory Board Mgmt For For
5 Approve Discharge of Auditors Mgmt For For
6 Approve Statement on Remuneration Policy Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Additionally, significant salary increases should be linked to material changes in the business or in the role and responsibilities of executive directors.
7 Authorize Repurchase and Reissuance of Shares Mgmt For Against and Bonds Voter Rationale: Shares should not be repurchased at a premium/discount to the market price of more than 10%. Furthermore, any issuance of shares at a significant discount to the market price should be approved by shareholders prior to such issuance and not as a part of routine share issuance authorities.
Gazprom PJSC
Meeting Date: 06/29/2018 Country: Russia Meeting Type: Annual Ticker: GAZP
Primary ISIN: RU0007661625 Primary SEDOL: B59L4L7
Page 160 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Gazprom PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income Mgmt For For
4 Approve Allocation of Income from Retained Mgmt For For Earnings of Previous Years
5 Approve Dividends Mgmt For For
6 Ratify Auditor Mgmt For For
7 Approve Remuneration of Directors Mgmt
8 Approve Remuneration of Members of Audit Mgmt For For Commission
9 Amend Regulations on General Meetings Mgmt For For
Elect 11 Directors by Cumulative Voting Mgmt
10.1 Elect Andrey Akimov as Director Mgmt
10.2 Elect Viktor Zubkov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
10.3 Elect Timur Kulibaev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
10.4 Elect Denis Manturov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
10.5 Elect Vitaly Markelov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 161 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Gazprom PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10.6 Elect Viktor Martynov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
10.7 Elect Vladimir Mau as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
10.8 Elect Aleksey Miller as Director Mgmt
10.9 Elect Aleksandr Novak as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
10.10 Elect Dmitry Patrushev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
10.11 Elect Mikhail Sereda as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
Elect Nine Members of Audit Commission Mgmt
11.1 Elect Vadim Bikulov as Member of Audit Mgmt For For Commission
11.2 Elect Aleksandr Gladkov as Member of Audit Mgmt For For Commission
11.3 Elect Margarita Mironova as Member of Audit Mgmt For For Commission
11.4 Elect Yury Nosov as Member of Audit Mgmt For For Commission
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Gazprom PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11.5 Elect Karen Oganyan as Member of Audit Mgmt For For Commission
11.6 Elect Alexandra Petrova as Member of Audit Mgmt For For Commission
11.7 Elect Sergey Platonov as Member of Audit Mgmt For For Commission
11.8 Elect Oksana Tarasenko as Member of Audit Mgmt For For Commission
11.9 Elect Tatyana Fisenko as Member of Audit Mgmt For For Commission
Geely Automobile Holdings Ltd.
Meeting Date: 05/25/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 175
Primary ISIN: KYG3777B1032 Primary SEDOL: 6531827
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Gui Sheng Yue as Director Mgmt For For
4 Elect An Cong Hui as Director Mgmt For For
5 Elect Wei Mei as Director Mgmt For For
6 Elect An Qing Heng as Director Mgmt For For
7 Authorize Board to Fix Remuneration of Mgmt For For Directors
8 Approve Grant Thornton Hong Kong Limited as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
9 Authorize Repurchase of Issued Share Capital Mgmt For For
10 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
11 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Page 163 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
GENTERA S.A.B. de C.V.
Meeting Date: 04/20/2018 Country: Mexico Meeting Type: Annual Ticker: GENTERA *
Primary ISIN: MX01GE0E0004 Primary SEDOL: BHWQZW1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Report of Board of Directors in Mgmt For For Compliance with Article 172 of Mexican General Companies Law Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income Mgmt For For
3 Approve Report on Share Repurchase Mgmt For For
4 Set Aggregate Nominal Amount of Share Mgmt For For Repurchase Reserve
5 Approve Cancellation of Treasury Shares Mgmt For For
6 Approve Report on Adherence to Fiscal Mgmt For For Obligations
7 Elect or Ratify Directors, Chairmen of Audit and Mgmt For For Corporate Practices Committees; Approve their Remuneration; Verify Independence Classification Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
8 Elect or Ratify Chairman, Secretary and Deputy Mgmt For For Secretary of Board Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
9 Appoint Legal Representatives Mgmt For For
Globant S.A.
Meeting Date: 06/20/2018 Country: Luxembourg Meeting Type: Annual Ticker: GLOB
Primary ISIN: LU0974299876 Primary SEDOL: BP40HF4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Receive Board's and Auditor's Reports Mgmt
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Globant S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Consolidated Financial Statements and Mgmt For For Statutory Reports
3 Approve Financial Statements Mgmt For For
4 Approve Allocation of Results Mgmt For For
5 Approve Discharge of Directors Mgmt For For
6 Approve Restricted Stock Plan Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Likewise, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
7 Approve Remuneration of Directors Mgmt For For
8 Renew Appointment of Deloitte as Auditor for Mgmt For For Annual Accounts
9 Appoint Deloitte & Co S.A. as Auditor for Mgmt For For Consolidated Accounts
10 Elect Reelect Martín Migoya as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure an orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate. Moreover. the roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability.
11 Reelect David J. Moore as Director Mgmt For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity.
12 Reelect Philip A. Odeen as Director Mgmt For For
Globe Telecom, Inc.
Meeting Date: 04/17/2018 Country: Philippines Meeting Type: Annual Ticker: GLO
Primary ISIN: PHY272571498 Primary SEDOL: 6284864
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve the Minutes of Previous Meeting Mgmt For For
2 Approve the Annual Report and Audited Mgmt For For Financial Statements
Elect 11 Directors by Cumulative Voting Mgmt
Page 165 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Globe Telecom, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.1 Elect Jaime Augusto Zobel de Ayala as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time. Finally, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board; support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
3.2 Elect Delfin L. Lazaro as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.3 Elect Lang Tao Yih, Arthur as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. . In addition, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.4 Elect Fernando Zobel de Ayala as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Finally, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.5 Elect Jose Teodoro K. Limcaoco as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.6 Elect Romeo L. Bernardo as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. . In addition, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Moreover, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.7 Elect Ernest L. Cu as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.8 Elect Samba Natarajan as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.9 Elect Saw Phaik Hwa as Director Mgmt For For
3.10 Elect Cirilo P. Noel as Director Mgmt For For
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Globe Telecom, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.11 Elect Rex Ma. A. Mendoza as Director Mgmt For For
4 Approve Independent Auditors and Approve the Mgmt For For Fixing of Their Remuneration
5 Approve Other Matters Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Gruma S.A.B. de C.V.
Meeting Date: 04/27/2018 Country: Mexico Meeting Type: Annual Ticker: GRUMA B
Primary ISIN: MXP4948K1056 Primary SEDOL: 2392545
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements and Statutory Mgmt For For Reports Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Present Report on Adherence to Fiscal Mgmt For For Obligations
3 Approve Allocation of Income and Dividends Mgmt For For
4 Set Maximum Amount of Share Repurchase Mgmt For For Reserve and Present Report of Operations with Treasury Shares
5 Elect Directors, Secretary, and Alternates, Verify Mgmt For Against Independence Classification of Directors and Approve Their Remuneration; Approve Remuneration of Audit and Corporate Practices Committees
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
6 Elect Chairmen of Audit and Corporate Practices Mgmt For Against Committees Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
8 Approve Minutes of Meeting Mgmt For For
Page 167 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Grupa LOTOS SA
Meeting Date: 06/28/2018 Country: Poland Meeting Type: Annual Ticker: LTS
Primary ISIN: PLLOTOS00025 Primary SEDOL: B0B8Z41
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Management Proposals Mgmt
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Agenda of Meeting Mgmt For For
5 Receive Financial Statements Mgmt
6 Receive Consolidated Financial Statements Mgmt
7 Receive Management Board Report on Mgmt Company's and Group's Operations
8 Receive Supervisory Board Report Mgmt
9 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. In addition, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
10 Approve Consolidated Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. In addition, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
11 Approve Management Board Report on Mgmt For For Company's and Group's Operations
12 Approve Allocation of Income and Dividends of Mgmt For For PLN 1 per Share
13.1 Approve Discharge of Mateusz Bonca (Deputy Mgmt For For CEO)
13.2 Approve Discharge of Jaroslaw Kawula (Deputy Mgmt For For CEO)
13.3 Approve Discharge of Marcin Jastrzebski Mgmt For For (Deputy CEO, CEO)
13.4 Approve Discharge of Mariusz Machajewski Mgmt For For (Former Deputy CEO)
14.1 Approve Discharge of Beata Kozlowska-Chyla Mgmt For For (Supervisory Board Chairman)
14.2 Approve Discharge of Piotr Ciacho (Supervisory Mgmt For For Board Member)
Page 168 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Grupa LOTOS SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
14.3 Approve Discharge of Katarzyna Lewandowska Mgmt For For (Supervisory Board Member)
14.4 Approve Discharge of Dariusz Figura Mgmt For For (Supervisory Board Member)
14.5 Approve Discharge of Mariusz Golecki Mgmt For For (Supervisory Board Member)
14.6 Approve Discharge of Adam Lewandowski Mgmt For For (Supervisory Board Member)
14.7 Approve Discharge of Agnieszka Mgmt For For Szklarczyk-Mierzwa (Supervisory Board Member)
15 Approve Acquisition of 3.3 Million Shares in Mgmt For For Increased Share Capital of LOTOS Upstream Sp. z o.o.
Shareholder Proposals Mgmt
16 Amend Statute SH None For
Voter Rationale: Votes FOR these resolutions are warranted as proposed changes are neutral in terms of their impact on shareholders' rights and value.
17 Authorize Supervisory Board to Approve SH None For Consolidated Text of Statute Voter Rationale: Votes FOR these resolutions are warranted as proposed changes are neutral in terms of their impact on shareholders' rights and value.
18.1 Recall Supervisory Board Member SH None Against
Voter Rationale: Companies should provide sufficient information on the directors to be recalled at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
18.2 Elect Supervisory Board Member SH None Against
Voter Rationale: Companies should provide sufficient information on the directors to be recalled at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Management Proposal Mgmt
19 Close Meeting Mgmt
Grupo Financiero Banorte S.A.B. de C.V.
Meeting Date: 04/27/2018 Country: Mexico Meeting Type: Annual Ticker: GFNORTE O
Primary ISIN: MXP370711014 Primary SEDOL: 2421041
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Grupo Financiero Banorte S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.a Approve CEO's Report on Financial Statements Mgmt For For and Statutory Reports
1.b Approve Board's Report on Policies and Mgmt For For Accounting Information and Criteria Followed in Preparation of Financial Information
1.c Approve Board's Report on Operations and Mgmt For For Activities Undertaken by Board
1.d Approve Report on Activities of Audit and Mgmt For For Corporate Practices Committee
1.e Approve All Operations Carried out by Company Mgmt For For and Ratify Actions Carried out by Board, CEO and Audit and Corporate Practices Committee
2 Approve Allocation of Income Mgmt For For
3.a1 Elect Carlos Hank Gonzalez as Board Chairman Mgmt For For
3.a2 Elect Juan Antonio Gonzalez Moreno as Director Mgmt For For
3.a3 Elect David Juan Villarreal Montemayor as Mgmt For For Director
3.a4 Elect Jose Marcos Ramirez Miguel as Director Mgmt For For
3.a5 Elect Everardo Elizondo Almaguer as Director Mgmt For For
3.a6 Elect Carmen Patricia Armendariz Guerra as Mgmt For For Director
3.a7 Elect Hector Federico Reyes-Retana y Dahl as Mgmt For For Director
3.a8 Elect Eduardo Livas Cantu as Director Mgmt For For
3.a9 Elect Alfredo Elias Ayub as Director Mgmt For For
3.a10 Elect Adrian Sada Cueva as Director Mgmt For For
3.a11 Elect Alejandro Burillo Azcarraga as Director Mgmt For For
3.a12 Elect Jose Antonio Chedraui Eguia as Director Mgmt For For
3.a13 Elect Alfonso de Angoitia Noriega as Director Mgmt For For
3.a14 Elect Olga Maria del Carmen Sanchez Cordero Mgmt For For Davila as Director
3.a15 Elect Thomas Stanley Heather Rodriguez as Mgmt For For Director
3.a16 Elect Graciela Gonzalez Moreno as Alternate Mgmt For For Director
Page 170 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Grupo Financiero Banorte S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.a17 Elect Juan Antonio Gonzalez Marcos as Mgmt For For Alternate Director
3.a18 Elect Carlos de la Isla Corry as Alternate Mgmt For For Director
3.a19 Elect Clemente Ismael Reyes Retana Valdes as Mgmt For For Alternate Director
3.a20 Elect Alberto Halabe Hamui as Alternate Mgmt For For Director
3.a21 Elect Manuel Aznar Nicolin as Alternate Director Mgmt For For
3.a22 Elect Roberto Kelleher Vales as Alternate Mgmt For For Director
3.a23 Elect Robert William Chandler Edwards as Mgmt For For Alternate Director
3.a24 Elect Isaac Becker Kabacnik as Alternate Mgmt For For Director
3.a25 Elect Jose Maria Garza Treviño as Alternate Mgmt For For Director
3.a26 Elect Javier Braun Burillo as Alternate Director Mgmt For For
3.a27 Elect Humberto Tafolla Nuñez as Alternate Mgmt For For Director
3.a28 Elect Guadalupe Phillips Margain as Alternate Mgmt For For Director
3.a29 Elect Eduardo Alejandro Francisco Garcia Mgmt For For Villegas as Alternate Director
3.a30 Elect Ricardo Maldonado Yañez as Alternate Mgmt For For Director
3.b Elect Hector Avila Flores as Board Secretary Mgmt For For Who Will Not Be Part of Board
3.c Approve Directors Liability and Indemnification Mgmt For For
4 Approve Remuneration of Directors Mgmt For For
5 Elect Hector Federico Reyes-Retana y Dahl as Mgmt For For Chairman of Audit and Corporate Practices Committee
6 Approve Report on Share Repurchase; Set Mgmt For For Aggregate Nominal Amount of Share Repurchase Reserve
7 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Grupo Financiero Banorte S.A.B. de C.V.
Meeting Date: 06/01/2018 Country: Mexico Meeting Type: Special Ticker: GFNORTE O
Primary ISIN: MXP370711014 Primary SEDOL: 2421041
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Business Mgmt
1.1 Approve Cash Dividends of MXN 3.45 Per Share Mgmt For For
1.2 Approve Dividend to Be Paid on June 11, 2018 Mgmt For For
2 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo GICSA S.A.B. de C.V.
Meeting Date: 04/25/2018 Country: Mexico Meeting Type: Annual Ticker: GICSA B
Primary ISIN: MX01GI020004 Primary SEDOL: BYYTST5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Approve CEO's Report Including External Mgmt For For Auditor's Report and Board's Opinion on CEO's Report
1.2 Approve Board Report on Principal Accounting Mgmt For For Policies and Criteria
1.3 Approve Report on Activities and Operations Mgmt For For Undertaken by Board
1.4 Approve Individual and Consolidated Financial Mgmt For For Statements
1.5 Approve Audit and Corporate Practices Mgmt For For Committee's Report
2 Approve Allocation of Income Mgmt For Against
Voter Rationale: The company has withheld dividend in recent years despite reporting net profits. Moreover, it has underperformed the MEXBOL index on a TSR basis in recent years.
Page 172 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Grupo GICSA S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Elect or Ratify Directors, Members of Audit and Mgmt For Against Corporate Practices Committee and Company Secretary; Ratify Directors and Members of Audit and Corporate Practices Committee
Voter Rationale: The names of the director nominees are not disclosed prior to the time that we are required to submit vote instructions
4 Approve Remuneration of Directors, Members of Mgmt For For Audit and Corporate Practices Committee and Company Secretary
5 Set Maximum Amount of Share Repurchase Mgmt For Against Reserve; Present Report on Share Repurchase Voter Rationale: The company has not disclosed the amount of the proposed share repurchase authority; and its most recent share repurchase authority exceeded a reasonable 10 percent of market capitalization.
6 Approve Constitution of Social Responsibility Mgmt For For Committee
7 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo Mexico S.A.B. de C.V.
Meeting Date: 04/27/2018 Country: Mexico Meeting Type: Annual Ticker: GMEXICO B
Primary ISIN: MXP370841019 Primary SEDOL: 2643674
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Consolidated Financial Statements and Mgmt For For Statutory Reports Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Present Report on Compliance with Fiscal Mgmt For For Obligations
3 Approve Allocation of Income Mgmt For For
4 Approve Policy Related to Acquisition of Own Mgmt For For Shares for 2017; Set Aggregate Nominal Amount of Share Repurchase Reserve for 2018
5 Approve Discharge of Board of Directors, Mgmt For For Executive Chairman and Board Committees
Page 173 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Grupo Mexico S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Elect or Ratify Directors; Verify Independence of Mgmt For Against Board Members; Elect or Ratify Chairmen and Members of Board Committees Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. Also, it is inappropriate for several voting items to be bundled into one resolution. Shareholders should be able to vote each item separately.
7 Approve Withdrawal of Powers Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Approve Remuneration of Directors and Mgmt For For Members of Board Committees
9 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Grupo Televisa S.A.B.
Meeting Date: 04/27/2018 Country: Mexico Meeting Type: Annual/Special Ticker: TLEVISA CPO
Primary ISIN: MXP4987V1378 Primary SEDOL: 2380108
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Meeting for Series L Shareholders Mgmt
1 Elect or Ratify Directors Representing Series L Mgmt For Against Shareholders Voter Rationale: We have serious concerns regarding potential governance failure and breach of fiduciary duty in light of corruption investigations involving the company's administrators and the disclosure of a number of material weaknesses regarding the company's internal control of its financial reporting. Moreover, no information was disclosed by the company regarding any remediation efforts or mitigating factors in light of the significant concerns; and no significant changes to the composition of the company's board or key committees have been proposed despite the governance concerns.
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale: We have serious concerns regarding potential governance failure and breach of fiduciary duty in light of corruption investigations involving the company's administrators and the disclosure of a number of material weaknesses regarding the company's internal control of its financial reporting. Moreover, no information was disclosed by the company regarding any remediation efforts or mitigating factors in light of the significant concerns; and no significant changes to the composition of the company's board or key committees have been proposed despite the governance concerns.
Meeting for Series D Shareholders Mgmt
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Grupo Televisa S.A.B.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect or Ratify Directors Representing Series D Mgmt For Against Shareholders Voter Rationale: We have serious concerns regarding potential governance failure and breach of fiduciary duty in light of corruption investigations involving the company's administrators and the disclosure of a number of material weaknesses regarding the company's internal control of its financial reporting. Moreover, no information was disclosed by the company regarding any remediation efforts or mitigating factors in light of the significant concerns; and no significant changes to the composition of the company's board or key committees have been proposed despite the governance concerns.
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale: We have serious concerns regarding potential governance failure and breach of fiduciary duty in light of corruption investigations involving the company's administrators and the disclosure of a number of material weaknesses regarding the company's internal control of its financial reporting. Moreover, no information was disclosed by the company regarding any remediation efforts or mitigating factors in light of the significant concerns; and no significant changes to the composition of the company's board or key committees have been proposed despite the governance concerns.
Ordinary Meeting of Series A and B Mgmt
1 Approve Financial Statements and Statutory Mgmt For Against Reports as Required by Article 28 of Mexican Securities Law, Approve Financial Statements; Approve Discharge of Directors, CEO and Board Committees
Voter Rationale: The company has bundled the request to approve its financial statements and the discharge of directors and CEO under the same proposal, preventing us from voting individually on these two different requests. Given the outstanding governance concerns, we do not support this proposal.
2 Present Report on Compliance with Fiscal Mgmt For For Obligations
3 Approve Allocation of Income Mgmt For Against
Voter Rationale: The company's payouts in recent years have consistently fallen below 30 percent of net income, and it has failed to outperform the country's main equity index on a TSR basis in recent years
4 Set Aggregate Nominal Amount of Share Mgmt For Against Repurchase Reserve; Receive Report on Policies and Board's Decisions on Share Repurchase and Sale of Treasury Shares Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5 Elect or Ratify Members of Board, Secretary and Mgmt For Against Other Officers Voter Rationale: We have serious concerns regarding potential governance failure and breach of fiduciary duty in light of corruption investigations involving the company's administrators and the disclosure of a number of material weaknesses regarding the company's internal control of its financial reporting. Moreover, no information was disclosed by the company regarding any remediation efforts or mitigating factors in light of the significant concerns; and no significant changes to the composition of the company's board or key committees have been proposed despite the governance concerns.
6 Elect or Ratify Members of Executive Committee Mgmt For Against
Voter Rationale: We have serious concerns regarding potential governance failure and breach of fiduciary duty in light of corruption investigations involving the company's administrators and the disclosure of a number of material weaknesses regarding the company's internal control of its financial reporting. Moreover, no information was disclosed by the company regarding any remediation efforts or mitigating factors in light of the significant concerns; and no significant changes to the composition of the company's board or key committees have been proposed despite the governance concerns.
Page 175 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Grupo Televisa S.A.B.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Elect or Ratify Chairman of Audit Committee Mgmt For Against
Voter Rationale: We have serious concerns regarding potential governance failure and breach of fiduciary duty in light of corruption investigations involving the company's administrators and the disclosure of a number of material weaknesses regarding the company's internal control of its financial reporting. Moreover, no information was disclosed by the company regarding any remediation efforts or mitigating factors in light of the significant concerns; and no significant changes to the composition of the company's board or key committees have been proposed despite the governance concerns.
8 Elect or Ratify Chairman of Corporate Practices Mgmt For Against Committee Voter Rationale: We have serious concerns regarding potential governance failure and breach of fiduciary duty in light of corruption investigations involving the company's administrators and the disclosure of a number of material weaknesses regarding the company's internal control of its financial reporting. Moreover, no information was disclosed by the company regarding any remediation efforts or mitigating factors in light of the significant concerns; and no significant changes to the composition of the company's board or key committees have been proposed despite the governance concerns.
9 Approve Remuneration of Board Members, Mgmt For For Executive, Audit and Corporate Practices Committees, and Secretary
10 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Extraordinary Meeting of Series A and B Mgmt
1 Approve Cancellation of Shares and Mgmt For Against Consequently Reduction in Share Capital; Amend Article 6 Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
2 Authorize Board to Ratify and Execute Approved Mgmt For Against Resolutions Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
GT Capital Holdings, Inc.
Meeting Date: 05/09/2018 Country: Philippines Meeting Type: Annual Ticker: GTCAP
Primary ISIN: PHY290451046 Primary SEDOL: B77H110
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Annual Mgmt For For Stockholders' Meeting Held on May 10, 2017
2 Approve Annual Report for the Year 2017 Mgmt For For
Page 176 of 367
The SEI Emerging Markets Equity Fund All Votes Report
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GT Capital Holdings, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Ratify All Acts and Resolutions of the Board of Mgmt For For Directors and Executive Committee and Management from the Date of the Last Annual Stockholders' Meeting up to Date of This Meeting
4 Elect External Auditor Mgmt For For
5 Approve Stock Dividend for Common Shares Mgmt For For
Elect 11 Directors by Cumulative Voting Mgmt
6.1 Elect Arthur Vy Ty as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board; support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
6.2 Elect Francisco C. Sebastian as Director Mgmt For For
6.3 Elect Alfred Vy Ty as Director Mgmt For For
6.4 Elect Carmelo Maria Luza Bautista as Director Mgmt For For
6.5 Elect David T. Go as Director Mgmt For For
6.6 Elect Regis V. Puno as Director Mgmt For For
6.7 Elect Pascual M. Garcia III as Director Mgmt For For
6.8 Elect Jaime Miguel G. Belmonte as Director Mgmt For For
6.9 Elect Wilfredo A. Paras as Director Mgmt For For
6.10 Elect Renato C. Valencia as Director Mgmt For For
6.11 Elect Rene J. Buenaventura as Director Mgmt For For
Guangzhou Automobile Group Co., Ltd.
Meeting Date: 05/18/2018 Country: China Meeting Type: Annual Ticker: 2238
Primary ISIN: CNE100001NQ2 Primary SEDOL: B7TC005
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Annual Report and Its Summary Mgmt For For Report Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
Page 177 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Guangzhou Automobile Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve 2017 Work Report of the Board of Mgmt For For Directors
3 Approve 2017 Work Report of the Supervisory Mgmt For For Committee
4 Approve 2017 Financial Report Mgmt For For
5 Approve Profit Distribution and Capitalization of Mgmt For For Capital Reserves
6 Approve Appointment of Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Approve Internal Control Auditors Mgmt For For
8 Approve Dividend Distribution Plan for Mgmt For For 2018-2020
9 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
10 Authorize Board of Directors to Issue Debt Mgmt For Against Financing Instruments Voter Rationale: A vote against this resolution is warranted given the limited disclosure regarding the proposed issuance of debt financing instruments which also includes issuance of convertible bonds.
Guangzhou R&F Properties Co., Ltd.
Meeting Date: 05/30/2018 Country: China Meeting Type: Annual Ticker: 2777
Primary ISIN: CNE100000569 Primary SEDOL: B19H8Y8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Board of Directors Mgmt For For
2 Approve 2017 Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Financial Statements and Mgmt For For Statutory Report
4 Approve Final Dividend Mgmt For For
5 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
Page 178 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Guangzhou R&F Properties Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Authorize Board to Decide on Matters Relating Mgmt For For to the Payment of Interim Dividend for the Six Months Ended June 30, 2018
RESOLUTIONS RELATING TO THE ELECTION Mgmt OF DIRECTORS AND AUTHORIZATION OF BOARD TO FIX THEIR REMUNERATION
7a Elect Li Sze Lim as Director and Authorize Board Mgmt For For to Fix His Remuneration Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
7b Elect Zhang Li as Director and Authorize Board Mgmt For For to Fix His Remuneration Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
7c Elect Zhou Yaonan as Director and Authorize Mgmt For For Board to Fix His Remuneration
7d Elect Lu Jing as Director and Authorize Board to Mgmt For For Fix His Remuneration
7e Elect Ng Yau Wah, Daniel as Director and Mgmt For For Authorize Board to Fix His Remuneration
8 Approve BDO China Shu Lun Pan Certified Mgmt For For Public Accountants LLP as Domestic Auditors and Reporting Accountant and to Fix Their Remuneration
9 Authorize Legal Representative(s) or Authorized Mgmt For For Person(s) and Its Subsidiaries to Sign Composite Credit Facilities or Loan Related Agreements and Documents
10 Approve Extension of Guarantees Up to RMB 80 Mgmt For Against Billion by the Company on Behalf of Subsidiaries, Associates, Joint Ventures and Other Investee Companies Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 Approve Extension of Guarantees on Behalf of Mgmt For Against Subsidiaries, Associates and Joint Ventures in 2017 Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
12 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Page 179 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Guangzhou R&F Properties Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
RESOLUTIONS RELATING TO THE EXTENSION Mgmt OF THE VALIDITY PERIOD OF APPLYING FOR THE INITIAL PUBLIC OFFERING AND LISTING OF RENMINBI ORDINARY A SHARES WITHIN THE TERRITORY OF PRC
13a Approve Class of Shares in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13b Approve Place of Listing in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13c Approve Issuer in Relation to the Extension of Mgmt For For the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13d Approve Number of Shares to be Issued in Mgmt For For Relation to the Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13e Approve Nominal Value of the Shares to be Mgmt For For Issued in Relation to the Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13f Approve Target Subscriber in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13g Approve Issue Price in Relation to the Extension Mgmt For For of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13h Approve Method of Issue in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13i Approve Underwriting Method in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
Page 180 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Guangzhou R&F Properties Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
13j Approve Use of Proceeds in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13k Approve Plan on the Allocation of Accumulated Mgmt For For Profits Prior to the Issue in Relation to the Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
13l Approve Effective Period of the Resolution in Mgmt For For Relation to the Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
14 Authorize Board to Handle All Matters in Mgmt For For Relation to the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
15 Approve Circulation of Domestic Shares on The Mgmt For Against Stock Exchange of Hong Kong Limited Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
16 Authorize Board to Handle All Matters in Mgmt For Against Relation to the Circulation of Domestic Shares on The Stock Exchange of Hong Kong Limited Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
17 Approve Issuance of Direct Debt Financing Mgmt For For Products and Asset Securitization Products in 2018
18 Authorize Board or Its Authorized Person(s) to Mgmt For For Handle All Matters in Relation to the Issuance of Direct Debt Financing Products and Asset Securitization Products in 2018
19 Amend Articles of Association Mgmt For For
Guangzhou R&F Properties Co., Ltd.
Meeting Date: 05/30/2018 Country: China Meeting Type: Special Ticker: 2777
Primary ISIN: CNE100000569 Primary SEDOL: B19H8Y8
Page 181 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Guangzhou R&F Properties Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
RESOLUTIONS RELATING TO THE EXTENSION Mgmt OF THE VALIDITY PERIOD OF APPLYING FOR THE INITIAL PUBLIC OFFERING AND LISTING OF RENMINBI ORDINARY A SHARES WITHIN THE TERRITORY OF PRC
1a Approve Class of Shares in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1b Approve Place of Listing in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1c Approve Issuer in Relation to the Extension of Mgmt For For the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1d Approve Number of Shares to be Issued in Mgmt For For Relation to the Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1e Approve Nominal Value of the Shares to be Mgmt For For Issued in Relation to the Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1f Approve Target Subscriber in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1g Approve Issue Price in Relation to the Extension Mgmt For For of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1h Approve Method of Issue in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
Page 182 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Guangzhou R&F Properties Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1i Approve Underwriting Method in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1j Approve Use of Proceeds in Relation to the Mgmt For For Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1k Approve Plan on the Allocation of Accumulated Mgmt For For Profits Prior to the Issue in Relation to the Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
1l Approve Effective Period of the Resolution in Mgmt For For Relation to the Extension of the Validity Period of Applying for the Initial Public Offering and Listing of Renminbi Ordinary A Shares within the Territory of PRC
2 Approve Extension of Validity Period of Mgmt For For Authorizing the Board to Handle All Matters in Relation to the Initial Public Offering and Listing of Renminbi Ordinary A Shares
3 Approve Circulation of Domestic Shares on The Mgmt For Against Stock Exchange of Hong Kong Limited Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
4 Authorize Board to Handle All Matters in Mgmt For Against Relation to the Circulation of Domestic Shares on The Stock Exchange of Hong Kong Limited Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Haier Electronics Group Co Ltd
Meeting Date: 06/26/2018 Country: Bermuda Meeting Type: Annual Ticker: 1169
Primary ISIN: BMG423131256 Primary SEDOL: B1TL3R8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2a Elect Zhou Yun Jie as Director Mgmt For For
Page 183 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Haier Electronics Group Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2b Elect Yu Hon To, David as Director Mgmt For Against
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
2c Elect Eva Cheng Li Kam Fun as Director Mgmt For For
2d Elect Yang Guang as Director Mgmt For For
2e Elect Gong Shao Lin as Director Mgmt For For
2f Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
4 Approve Final Dividend Mgmt For For
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
8 Approve Allotment and Issuance of New Shares Mgmt For Against Under the Restricted Share Award Scheme
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. In addition, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
9 Amend Bye-Laws Mgmt For For
HannStar Display Corp.
Meeting Date: 06/08/2018 Country: Taiwan Meeting Type: Annual Ticker: 6116
Primary ISIN: TW0006116007 Primary SEDOL: 6381828
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
Page 184 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
HannStar Display Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Issuance of Shares via a Private Mgmt For Against Placement or Public Offering Voter Rationale: We voted against because the dilution associated with the proposed placement or public offering is excessive.
4 Amend Articles of Association Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS SUPERVISORS VIA CUMULATIVE VOTING
5.1 Elect JIAO YOU CHI, with Shareholder No. 8, as Mgmt For For Non-Independent Director
5.2 Elect a Representative of WALSIN LIHWA Mgmt For For CORPORATION, with Shareholder No. 2, as Non-Independent Director
5.3 Elect MA WEI XIN, with Shareholder No. Mgmt For For 663422, as Non-Independent Director
5.4 Elect CHEN YONG CHIN, with ID No. Mgmt For For 1963041XXX, as Non-Independent Director
5.5 Elect JIANG HUI ZHONG, with ID No. Mgmt For Against S120170XXX, as Independent Director Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
5.6 Elect ZHAO XIN ZHE, with ID No. A103389XXX, Mgmt For For as Independent Director
5.7 Elect SUN LU YUN, with ID No. A201699XXX, as Mgmt For For Independent Director
6 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors (Walsin Lihwa Corporation)
7 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors (JIAO YOU CHI)
8 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors (MA WEI XIN)
9 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors (CHEN YONG CHIN)
10 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Directors (JIANG HUI ZHONG)
Voter Rationale: Companies should clearly disclose the business benefits cross directorships will bring, or how conflicts of interest or competition concerns will be managed if these directors engage in business activities with competitors.
Page 185 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
HDFC Bank Limited
Meeting Date: 06/29/2018 Country: India Meeting Type: Annual Ticker: HDFCBANK
Primary ISIN: INE040A01026 Primary SEDOL: B5Q3JZ5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Dividend Mgmt For For
3 Reelect Keki Mistry as Director Mgmt For For
4 Approve S. R. Batliboi & Co., LLP, Chartered Mgmt For For Accountants as Auditors and Authorize Board to Fix Their Remuneration
5 Approve Related Party Transactions with Mgmt For For Housing Development Finance Corporation Limited
6 Approve Related Party Transactions with HDB Mgmt For For Financial Services Limited
7 Approve Issuance of Bonds/Non-Convertible Mgmt For For Debentures on Private Placement Basis
Hexaware Technologies Ltd.
Meeting Date: 05/03/2018 Country: India Meeting Type: Annual Ticker: HEXAWARE
Primary ISIN: INE093A01033 Primary SEDOL: B07LTC0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Interim Dividend Mgmt For For
3 Reelect Jimmy Mahtani as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4 Approve B S R & Co. LLP, Chartered Mgmt For For Accountants, Mumbai as Auditors and Authorize Board to Fix Their Remuneration
Page 186 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Hexaware Technologies Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Elect P R Chandrasekar as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6 Reelect Meera Shankar as Director Mgmt For For
Hindustan Unilever Limited.
Meeting Date: 06/29/2018 Country: India Meeting Type: Annual Ticker: 500696
Primary ISIN: INE030A01027 Primary SEDOL: 6261674
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Confirm Interim Dividend and Declare Final Mgmt For For Dividend
3 Reelect Pradeep Banerjee as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
4 Reelect Dev Bajpai as Director Mgmt For For
5 Reelect Srinivas Phatak as Director Mgmt For For
6 Approve Reappointment and Remuneration of Mgmt For For Sanjiv Mehta as Managing Director and Chief Executive Officer
7 Approve Remuneration of Cost Auditors Mgmt For For
Hiwin Technologies Corp.
Meeting Date: 06/27/2018 Country: Taiwan Meeting Type: Annual Ticker: 2049
Primary ISIN: TW0002049004 Primary SEDOL: B1YMYT5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
Page 187 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Hiwin Technologies Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Approve the Issuance of New Shares by Mgmt For For Capitalization of Profit
Home Product Center Public Co. Ltd.
Meeting Date: 04/09/2018 Country: Thailand Meeting Type: Annual Ticker: HMPRO
Primary ISIN: TH0661010007 Primary SEDOL: 6418544
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Operating Results Mgmt For For
3 Approve Financial Statements and Statutory Mgmt For For Reports
4 Approve Dividend Payment Mgmt For For
5.1 Elect Naporn Sunthornchitcharoen as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.2 Elect Rutt Phanijphand as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.3 Elect Manit Udomkunnatum as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity.
5.4 Elect Boonsom Lerdhirunwong as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
7 Approve Bonus of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Page 188 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Home Product Center Public Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Approve EY Office Limited as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
9 Amend Memorandum of Association Re: Mgmt For For Company's Objectives
10 Amend Article of Association Re: Meeting of Mgmt For For Shareholders
11 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Hon Hai Precision Industry Co., Ltd.
Meeting Date: 06/22/2018 Country: Taiwan Meeting Type: Annual Ticker: 2317
Primary ISIN: TW0002317005 Primary SEDOL: 6438564
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Plan on Profit Distribution Mgmt For For
3 Approve Capital Decrease via Cash Mgmt For For
Hu Lane Associate Inc.
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 6279
Primary ISIN: TW0006279003 Primary SEDOL: 6708698
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
Page 189 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Huatai Securities Co., Ltd.
Meeting Date: 06/13/2018 Country: China Meeting Type: Annual Ticker: 601688
Primary ISIN: CNE100000LQ8 Primary SEDOL: B61VK25
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Work Report of the Board Mgmt For For
2 Approve 2017 Work Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Final Financial Report Mgmt For For
4 Approve 2017 Annual Report Mgmt For For
5 Approve 2018 Resolutions on Estimated Mgmt For For Ordinary Transactions with Related Parties
5.1 Approve Ordinary Connected Transactions with Mgmt For For Jiangsu Guoxin Investment Group Limited and Its Affiliated Companies
5.2 Approve Ordinary Connected Transactions with Mgmt For For Jiangsu Communications Holding Co., Ltd. and Its Affiliated Companies
5.3 Approve Ordinary Connected Transactions with Mgmt For For Govtor Capital Group Co., Ltd. and Its Affiliated Companies
5.4 Approve Ordinary Connected Transactions with Mgmt For For Jiangsu SOHO Holdings Group Co., Ltd. and Its Affiliated Companies
5.5 Approve Ordinary Connected Transactions with Mgmt For For Other Related Parties
6 Approve 2018 Estimated Investment Amount for Mgmt For For Proprietary Business
7 Approve KPMG Huazhen LLP as Auditor for the Mgmt For For Accounting Statements, as Internal Control Auditor and to Issue Audit Reports on A Shares and H Shares and Fix Their Remuneration
8 Amend Regulations on the Management of Mgmt For For Transactions with Related Parties of Huatai Securities Co., Ltd.
9 Elect Chen Zhibin as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
10 Approve 2017 Profit Distribution Plan Mgmt For For
11 Amend Articles of Association Mgmt For For
Page 190 of 367
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Huatai Securities Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12 Approve Issuance of Equity or Equity-Linked SH For Against Securities without Preemptive Rights Voter Rationale: A vote AGAINST this resolution is warranted for the following:* The share issuance limit is greater than 10 percent.* The company has not specified the discount limit.
13 Approve Extension of the Validity Period of SH For For Resolution of the General Meeting on the Non-public Issuance Voter Rationale: A vote FOR these resolutions is warranted given the following reasons:* the company has well demonstrated its need for capital; and* the basis for determining the final issue price is in accordance with the common market practice.
14 Approve Extension of the Validity Period of SH For For Authorization Granted by the General Meeting to the Board and Its Authorized Persons to Deal with Matters in Relation to the Non-public Issuance
Voter Rationale: A vote FOR these resolutions is warranted given the following reasons:* the company has well demonstrated its need for capital; and* the basis for determining the final issue price is in accordance with the common market practice.
Hyosung Corp.
Meeting Date: 04/27/2018 Country: South Korea Meeting Type: Special Ticker: A004800
Primary ISIN: KR7004800009 Primary SEDOL: 6896838
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Spin-Off Agreement Mgmt For Against
Hypera S.A.
Meeting Date: 04/19/2018 Country: Brazil Meeting Type: Annual Ticker: HYPE3
Primary ISIN: BRHYPEACNOR0 Primary SEDOL: B2QY968
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
Page 191 of 367
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Hypera S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Remuneration of Company's Mgmt For For Management
4 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
Hypera S.A.
Meeting Date: 04/19/2018 Country: Brazil Meeting Type: Special Ticker: HYPE3
Primary ISIN: BRHYPEACNOR0 Primary SEDOL: B2QY968
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Change Company Name to Hypera Pharma and Mgmt For For Amend Article 1 Accordingly
2 Amend Articles 24 and 28, and Remove item 35 Mgmt For For
3 Amend Articles 17, 18, 19, 23, 24, 38, 58 and Mgmt For For 61
4 Renumber Articles and Consolidate Bylaws Mgmt For For
5 Approve Share Matching Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
6 Re-Ratify Remuneration of Company's Mgmt For Against Management for Fiscal Year 2016 Voter Rationale: Companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
7 Amend Share Matching Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
8 Amend Restricted Stock Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
9 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Page 192 of 367
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Industrial and Commercial Bank of China Limited
Meeting Date: 06/26/2018 Country: China Meeting Type: Annual Ticker: 1398
Primary ISIN: CNE1000003G1 Primary SEDOL: B1G1QD8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Work Report of the Board of Mgmt For For Directors
2 Approve 2017 Work Report of the Board of Mgmt For For Supervisors
3 Approve 2017 Audited Accounts Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve 2018 Fixed Asset Investment Budget Mgmt For For
6 Approve 2018-2020 Capital Planning Mgmt For For
7 Approve KPMG Huazhen LLP and KPMG as Mgmt For For External Auditors and KPMG Huazhen LLP as Internal Control Auditors
8 Elect Cheng Fengchao Director Mgmt For Against
9 Amend Plan on Authorization of the Mgmt For For Shareholders' General Meeting to the Board of Directors
Industrias Bachoco S.A.B. de C.V.
Meeting Date: 04/25/2018 Country: Mexico Meeting Type: Annual Ticker: IBA
Primary ISIN: MX01BA1D0003 Primary SEDOL: B1FJ6T9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Financial Statements and Statutory Mgmt For For Reports
2 Present Report on Adherence to Fiscal Mgmt For For Obligations
3 Approve Allocation of Income and Cash Mgmt For For Dividends
Page 193 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Industrias Bachoco S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Set Maximum Amount of Share Repurchase Mgmt For For Reserve
5 Elect or Ratify Directors and Secretary; Verify Mgmt For Against Independence Classification of Board Members
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. Furthermore, the board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
6 Elect or Ratify Chairman and Members of Audit Mgmt For Against and Corporate Practices Committee Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 Approve Remuneration of Directors, Board Mgmt For For Secretary, and Audit and Corporate Practices Committee Chairman and Members
8 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
9 Approve Minutes of Meeting Mgmt For For
Infosys Ltd.
Meeting Date: 06/23/2018 Country: India Meeting Type: Annual Ticker: INFY
Primary ISIN: INE009A01021 Primary SEDOL: 6205122
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Dividend Mgmt For For
3 Reelect U. B. Pravin Rao as Director Mgmt For For
4 Approve Deloitte Haskins & Sells LLP, Chartered Mgmt For For Accountants as Statutory Auditors and Authorize Board to Fix Their Remuneration
Infosys Ltd.
Meeting Date: 06/23/2018 Country: India Meeting Type: Annual Ticker: INFY
Primary ISIN: INE009A01021 Primary SEDOL: 6205122
Page 194 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Infosys Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Dividend Mgmt For For
3 Reelect U. B. Pravin Rao as Director Mgmt For For
4 Approve Deloitte Haskins & Sells LLP, Chartered Mgmt For For Accountants as Statutory Auditors and Authorize Board to Fix Their Remuneration
Infraestructura Energetica Nova S.A.B. de C.V.
Meeting Date: 04/27/2018 Country: Mexico Meeting Type: Annual Ticker: IENOVA *
Primary ISIN: MX01IE060002 Primary SEDOL: B84XBP2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Reports Mgmt For For and Allocation of Income
2 Elect or Ratify Principal and Alternate Directors, Mgmt For Against Members and Chairman of Audit and Corporate Practices Committee; Verify Independence Classification of Board Members
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. Moreover, it is inappropriate for several voting items to be bundled into one resolution. Shareholders should be able to vote each item separately.
3 Approve Remuneration of Principal and Mgmt For For Alternate Directors, Members of Board Committees and Company Secretary
4 Appoint Legal Representatives Mgmt For For
Infraestructura Energetica Nova S.A.B. de C.V.
Meeting Date: 06/14/2018 Country: Mexico Meeting Type: Special Ticker: IENOVA *
Primary ISIN: MX01IE060002 Primary SEDOL: B84XBP2
Page 195 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Infraestructura Energetica Nova S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Business Mgmt
1 Authorize Share Repurchase Reserve Mgmt For For
2 Appoint Legal Representatives Mgmt For For
International Container Terminal Services, Inc.
Meeting Date: 04/19/2018 Country: Philippines Meeting Type: Annual Ticker: ICT
Primary ISIN: PHY411571011 Primary SEDOL: 6455819
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Minutes of the Annual Stockholders' Mgmt For For Meeting Held on April 20, 2017
4 Presentation of Chairman's Report Mgmt For For
5 Approve the Chairman's Report and the 2017 Mgmt For For Audited Financial Statements
6 Ratify the Acts, Contracts, Investments, and Mgmt For For Resolutions of the Board of Directors and Management Since the Last Annual Stockholders' Meeting
Elect 7 Directors by Cumulative Voting Mgmt
7.1 Elect Enrique K. Razon, Jr. as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. Finally, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board; support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
7.2 Elect Jon Ramon M. Aboitiz as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. . In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 196 of 367
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International Container Terminal Services, Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.3 Elect Octavio Victor R. Espiritu as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
7.4 Elect Joseph R. Higdon as Director Mgmt For For
7.5 Elect Jose C. Ibazeta as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
7.6 Elect Stephen A. Paradies as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
7.7 Elect Andres Soriano III as Director Mgmt For Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
8 Appoint External Auditors Mgmt For For
9 Approve Other Matters Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
10 Adjournment Mgmt For For
Inventec Corporation
Meeting Date: 06/14/2018 Country: Taiwan Meeting Type: Annual Ticker: 2356
Primary ISIN: TW0002356003 Primary SEDOL: 6459930
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
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Inventec Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Profit Distribution Mgmt For For
3 Approve Amendments to Articles of Association Mgmt For For
4 Amend Procedures for Endorsement and Mgmt For For Guarantees
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors Chan,Ching-Sung, Chen Ruey-Long and Shyu Jyuo-Min
Itau Unibanco Holding SA
Meeting Date: 04/25/2018 Country: Brazil Meeting Type: Annual Ticker: ITUB4
Primary ISIN: BRITUBACNPR1 Primary SEDOL: B037HR3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 As a Preferred Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
2 In Case Neither Class of Shares Reaches the Mgmt None For Minimum Quorum Required by the Brazilian Corporate Law to Elect a Board Representative in Separate Elections, Would You Like to Use Your Votes to Elect the Candidate with More Votes to Represent Both Classes?
3.1 Elect Carlos Roberto de Albuquerque Sa as SH None For Fiscal Council Member Appointed by Preferred Shareholder
3.2 Elect Eduardo Azevedo do Valle as Alternate SH None Abstain Fiscal Council Member Appointed by Preferred Shareholder
Itausa, Investimentos Itau S.A.
Meeting Date: 04/12/2018 Country: Brazil Meeting Type: Annual Ticker: ITSA4
Primary ISIN: BRITSAACNPR7 Primary SEDOL: 2458771
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Itausa, Investimentos Itau S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Elect Jose Maria Rabelo as Fiscal Council SH None For Member and Isaac Berensztejn as Alternate Appointed by Preferred Shareholder
Jiangsu Expressway Co. Ltd.
Meeting Date: 06/21/2018 Country: China Meeting Type: Annual Ticker: 177
Primary ISIN: CNE1000003J5 Primary SEDOL: 6005504
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
2 Approve 2017 Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Audit Report and Financial Mgmt For For Statement
4 Approve 2017 Final Account Report Mgmt For For
5 Approve 2018 Financial Budget Report Mgmt For For
6 Approve 2017 Final Profit Distribution Plan and Mgmt For For Final Dividend
7 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants LLP as Auditors and Internal Auditors and Authorize Board to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
8 Approve Amendments to Articles of Association Mgmt For For
9 Approve Grant of General Mandate to Issue Mgmt For For Debt Instruments
9.01 Approve Issue Size and Method in Relation to Mgmt For For Issuance of Debt Financing Instruments
9.02 Approve Type of Debt Financing Instruments Mgmt For For
Page 199 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Jiangsu Expressway Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9.03 Approve Maturity of Debt Financing Instruments Mgmt For For
9.04 Approve Target Subscribers and Arrangement Mgmt For For for Placement to Shareholders in Relation to Issuance of Debt Financing Instruments
9.05 Approve Interest Rate in Relation to Issuance of Mgmt For For Debt Financing Instruments
9.06 Approve Use of Proceeds in Relation to Issuance Mgmt For For of Debt Financing Instruments
9.07 Approve Listing in Relation to Issuance of Debt Mgmt For For Financing Instruments
9.08 Approve Guarantee in Relation to Issuance of Mgmt For For Debt Financing Instruments
9.09 Approve Validity Period in Relation to Issuance Mgmt For For of Debt Financing Instruments
9.10 Approve Authorization Arrangement in Relation Mgmt For For to Issuance of Debt Financing Instruments
RESOLUTION IN RELATION TO THE ELECTION Mgmt OF 7 DIRECTORS VIA CUMULATIVE VOTING
10.1 Elect Gu Dejun as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
10.2 Elect Chen Yanli as Director Mgmt For For
10.3 Elect Chen Yongbing as Director Mgmt For For
10.4 Elect Yao Yongjia as Director Mgmt For For
10.5 Elect Wu Xinhua as Director Mgmt For For
10.6 Elect Ms. Hu Yu as Director Mgmt For For
10.7 Elect Ma Chung Lai, Lawrence as Director Mgmt For For
RESOLUTION IN RELATION TO THE ELECTION Mgmt OF 4 INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
11.1 Elect Zhang Zhuting as Independent Director Mgmt For For
11.2 Elect Chen Liang as Independent Director Mgmt For For
11.3 Elect Lin Hui as Independent Director Mgmt For For
11.4 Elect Zhou Shudong as Independent Director Mgmt For For
RESOLUTION IN RELATION TO THE ELECTION Mgmt OF 3 SUPERVISORS VIA CUMULATIVE VOTING
12.1 Elect Yu Lanying as Supervisor Mgmt For For
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Jiangsu Expressway Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12.2 Elect Ding Guozhen as Supervisor Mgmt For For
12.3 Elect Pan Ye as Supervisor Mgmt For For
JSE Ltd
Meeting Date: 05/17/2018 Country: South Africa Meeting Type: Annual Ticker: JSE
Primary ISIN: ZAE000079711 Primary SEDOL: B12W5L6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2017
2.1 Re-elect Dr Mantsika Matooane as Director Mgmt For For
2.2 Re-elect Aarti Takoordeen as Director Mgmt For For
3 Re-elect Nigel Payne as Director Mgmt For For
4 Elect Nolitha Fakude as Director Mgmt For For
5 Reappoint EY South Africa as Auditors of the Mgmt For For Company and Appoint I Akoodie as the Designated Auditor and Authorise Their Remuneration
6.1 Re-elect Dr Suresh Kana as Chairman of the Mgmt For For Audit Committee
6.2 Re-elect Nigel Payne as Member of the Audit Mgmt For For Committee
6.3 Elect Dr Mantsika Matooane as Member of the Mgmt For For Audit Committee
7 Approve Remuneration Policy Mgmt For For
8 Approve Remuneration Implementation Report Mgmt For For
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. We note that 40% of the LTIP awards for executives are based on the achievement of undisclosed milestones related to the Integrated Trading and Clearing (ITaC) project. However, given the strategic importance of delivering this project to long-term shareholder value, as well as the absence of any other significant concerns, we still intend to support at this time. The Company is encouraged to provide detailed information on the achievement of milestones going forward.
9 Approve Long-Term Incentive Scheme Mgmt For For
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
JSE Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Authorise Ratification of Approved Resolutions Mgmt For For
Special Resolutions Mgmt
1 Authorise Repurchase of Issued Share Capital Mgmt For For
2 Approve Financial Assistance in Terms of Mgmt For For Sections 44 and 45 of the Companies Act
3 Approve Acquisition of Shares for the Purpose of Mgmt For For the Long-Term Incentive Scheme
4 Approve Financial Assistance in Respect of the Mgmt For For Long-Term Incentive Scheme
5 Approve Non-executive Director Emoluments for Mgmt For For 2018
KAZ Minerals plc
Meeting Date: 05/03/2018 Country: United Kingdom Meeting Type: Annual Ticker: KAZ
Primary ISIN: GB00B0HZPV38 Primary SEDOL: B0HZPV3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Remuneration Report Mgmt For Against
3 Elect Alison Baker as Director Mgmt For For
4 Re-elect Oleg Novachuk as Director Mgmt For Against
5 Re-elect Andrew Southam as Director Mgmt For For
6 Re-elect Lynda Armstrong as Director Mgmt For For
7 Re-elect Vladimir Kim as Director Mgmt For For
8 Re-elect Michael Lynch-Bell as Director Mgmt For For
9 Re-elect John MacKenzie as Director Mgmt For For
10 Re-elect Charles Watson as Director Mgmt For For
11 Reappoint KPMG LLP as Auditors Mgmt For For
12 Authorise Board to Fix Remuneration of Auditors Mgmt For For
13 Authorise Issue of Equity with Pre-emptive Mgmt For For Rights
Page 202 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
KAZ Minerals plc
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
14 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights
15 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights in Connection with an Acquisition or Other Capital Investment
16 Authorise Market Purchase of Ordinary Shares Mgmt For For
17 Authorise the Company to Call General Meeting Mgmt For For with Two Weeks' Notice
KGHM Polska Miedz S.A.
Meeting Date: 04/13/2018 Country: Poland Meeting Type: Special Ticker: KGH
Primary ISIN: PLKGHM000017 Primary SEDOL: 5263251
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Shareholder Proposal Mgmt
1 Approve Changes in Composition of Supervisory SH None Against Board Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Management Proposal Mgmt
2 Close Meeting Mgmt
Kingboard Chemical Holdings Ltd
Meeting Date: 05/28/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 148
Primary ISIN: KYG525621408 Primary SEDOL: 6491318
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3A Elect Chang Wing Yiu as Director Mgmt For For
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Kingboard Chemical Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3B Elect Cheung Ka Shing as Director Mgmt For For
3C Elect Chen Maosheng as Director Mgmt For For
3D Elect Cheung Ming Man as Director Mgmt For For
3E Elect Chan Wing Kee as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
4 Authorize Board to Fix Remuneration of Mgmt For For Directors
5 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
6A Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6B Authorize Repurchase of Issued Share Capital Mgmt For For
6C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
7 Adoption of the EEIC Scheme and Termination Mgmt For Against of EEIC Existing Scheme Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Kingboard Chemical Holdings Ltd
Meeting Date: 06/19/2018 Country: Cayman Islands Meeting Type: Special Ticker: 148
Primary ISIN: KYG525621408 Primary SEDOL: 6491318
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Change English Name and Chinese Name of the Mgmt For For Company
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Kingdee International Software Group Co. Ltd.
Meeting Date: 05/09/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 268
Primary ISIN: KYG525681477 Primary SEDOL: 6327587
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2A Elect Lin Bo as Director Mgmt For For
2B Elect Liu Chia Yung as Director Mgmt For For
2C Elect Gary Clark Biddle as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
2D Elect Shen Yuan Ching as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
2E Elect Cao Yang Feng as Director Mgmt For For
3 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 Approve Final Dividend Mgmt For For
6A Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6B Authorize Repurchase of Issued Share Capital Mgmt For For
6C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Kingpak Technology Inc.
Meeting Date: 04/16/2018 Country: Taiwan Meeting Type: Annual Ticker: 6238
Primary ISIN: TW0006238009 Primary SEDOL: 6603878
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Kingpak Technology Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
3 Approve Adjustment to the Fund Usage Plan of Mgmt For For 2013 Convertible Bond
4 Amend Articles of Association Mgmt For For
ELECT INDEPENDENT DIRECTOR VIA Mgmt CUMULATIVE VOTING
5.1 Elect Wu Guo Zeng, with ID No. A103233XXX, Mgmt For For as Independent Director
6 Approve Release of Restrictions on Competitive Mgmt For For Activities of Newly Appointed Directors and Representatives
King's Town Bank
Meeting Date: 05/17/2018 Country: Taiwan Meeting Type: Annual Ticker: 2809
Primary ISIN: TW0002809001 Primary SEDOL: 6575159
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
Kingsoft Corporation Ltd.
Meeting Date: 05/23/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 3888
Primary ISIN: KYG5264Y1089 Primary SEDOL: B27WRM3
Page 206 of 367
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Kingsoft Corporation Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Chi Ping Lau as Director Mgmt For Against
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.2 Elect David Yuen Kwan Tang as Director Mgmt For For
3.3 Elect Wenjie Wu as Director Mgmt For For
3.4 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Komercni Banka A.S.
Meeting Date: 04/25/2018 Country: Czech Republic Meeting Type: Annual Ticker: KOMB
Primary ISIN: CZ0008019106 Primary SEDOL: 4519449
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
2 Approve Management Board Report on Mgmt For For Company's Operations and State of Its Assets in Fiscal 2017
3 Receive Report on Act Providing for Business Mgmt Undertaking in Capital Market
Page 207 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Komercni Banka A.S.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Receive Management Board Report on Related Mgmt Entities
5 Receive Consolidated and Standalone Financial Mgmt Statements; Receive Proposal of Allocation of Income
6 Receive Supervisory Board Reports on Financial Mgmt Statements; Proposal on Allocation of Income; Its Activities; and Management Board Report on Related Entities
7 Receive Audit Committee Report Mgmt
8 Approve Consolidated Financial Statements Mgmt For For
9 Approve Standalone Financial Statements Mgmt For For
10 Approve Allocation of Income and Dividends of Mgmt For For CZK 47 per Share
11 Elect Petr Dvorak as Audit Committee Member Mgmt For For
12 Ratify Deloitte Audit s.r.o. as Auditor Mgmt For For
Korea Electric Power Corp.
Meeting Date: 04/10/2018 Country: South Korea Meeting Type: Special Ticker: A015760
Primary ISIN: KR7015760002 Primary SEDOL: 6495730
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ELECT ONE INSIDE DIRECTOR (CEO) OUT OF Mgmt TWO NOMINEES (ITEMS 1.1 - 1.2)
1.1 Elect Kim Jong-gap as Inside Director Mgmt For For
1.2 Elect Byeon Jun-yeon as Inside Director Mgmt For Do Not Vote
Kroton Educacional S.A.
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Annual Ticker: KROT3
Primary ISIN: BRKROTACNOR9 Primary SEDOL: 2836946
Page 208 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Kroton Educacional S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Furthermore, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
4 Elect Fiscal Council Members Mgmt For For
5 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Kroton Educacional S.A.
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Special Ticker: KROT3
Primary ISIN: BRKROTACNOR9 Primary SEDOL: 2836946
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
2 Approve Fiscal Council Members Remuneration Mgmt For For
Kumba Iron Ore Ltd
Meeting Date: 05/11/2018 Country: South Africa Meeting Type: Annual Ticker: KIO
Primary ISIN: ZAE000085346 Primary SEDOL: B1G4262
Page 209 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Kumba Iron Ore Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1 Reappoint Deloitte & Touche as Auditors of the Mgmt For For Company and Appoint Nita Ranchod as Individual Designated Auditor Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
2.1 Re-elect Dolly Mokgatle as Director Mgmt For For
2.2 Elect Sango Ntsaluba as Director Mgmt For For
2.3 Elect Dr Mandla Gantsho as Director Mgmt For For
2.4 Elect Ntombi Langa-Royds as Director Mgmt For For
2.5 Elect Mary Bomela as Director Mgmt For For
3.1 Re-elect Dolly Mokgatle as Member of the Audit Mgmt For For Committee
3.2 Re-elect Terence Goodlace as Member of the Mgmt For For Audit Committee
3.3 Elect Sango Ntsaluba as Member of the Audit Mgmt For For Committee
3.4 Elect Mary Bomela as Member of the Audit Mgmt For For Committee
4.1 Approve Remuneration Policy Mgmt For For
4.2 Approve Remuneration Implementation Report Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control. Lastly, all exceptional awards should be clearly linked to performance and demonstrate shareholder value creation in addition to and above that expected of directors as a normal part of their jobs.
5 Amend Long-Term Incentive Plan Mgmt For For
6 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
7 Authorise Ratification of Approved Resolutions Mgmt For For
Special Resolutions Mgmt
1 Authorise Board to Issue Shares for Cash Mgmt For For
2 Approve Remuneration of Non-Executive Mgmt For For Directors
2 Approve Chairman's Fees Mgmt For For
3 Approve Financial Assistance in Terms of Mgmt For For Sections 44 and 45 of the Companies Act
Page 210 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Kumba Iron Ore Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Authorise Repurchase of Issued Share Capital Mgmt For For
Kunlun Energy Company Ltd
Meeting Date: 05/24/2018 Country: Bermuda Meeting Type: Annual Ticker: 135
Primary ISIN: BMG5320C1082 Primary SEDOL: 6340078
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3A Elect Ling Xiao as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Furthermore, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3B Elect Zhou Yuanhong as Director Mgmt For For
3C Elect Miao Yong as Director Mgmt For For
4 Authorize Board to Fix Remuneration of Mgmt For For Directors
5 Approve KPMG as Auditor and Authorize Board Mgmt For For to Fix Their Remuneration
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Share Repurchase Program Mgmt For For
8 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Land & Houses Public Co. Ltd.
Meeting Date: 04/26/2018 Country: Thailand Meeting Type: Annual Ticker: LH
Primary ISIN: TH0143010Z08 Primary SEDOL: 6581907
Page 211 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Land & Houses Public Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Acknowledge Operating Results Mgmt For For
3 Approve Financial Statements Mgmt For For
4 Approve Allocation of Income, Dividend Mgmt For For Payment and Legal Reserve
5.1 Elect Piphob Veraphong as Director Mgmt For For
5.2 Elect Bundit Pitaksit as Director Mgmt For For
5.3 Elect Nantawat Pipatwongkasem as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
7 Approve EY Office Limited as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
8.1 Amend Clause 26 of the Articles of Association Mgmt For For
8.2 Amend Clause 32 of the Articles of Association Mgmt For For
9 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Largan Precision Co., Ltd.
Meeting Date: 06/12/2018 Country: Taiwan Meeting Type: Annual Ticker: 3008
Primary ISIN: TW0003008009 Primary SEDOL: 6451668
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Approve Amendments to Rules and Procedures Mgmt For For Regarding Shareholder's General Meeting
Page 212 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Largan Precision Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Amendments to Articles of Association Mgmt For For
LG Corp.
Meeting Date: 06/29/2018 Country: South Korea Meeting Type: Special Ticker: A003550
Primary ISIN: KR7003550001 Primary SEDOL: 6537030
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Elect Koo Gwang-mo as Inside Director Mgmt For For
1.2 Elect Kim Sang-heon as Outside Director Mgmt For For
2 Elect Kim Sang-heon as a Member of Audit Mgmt For For Committee
Li Ning Company Ltd.
Meeting Date: 06/15/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 2331
Primary ISIN: KYG5496K1242 Primary SEDOL: B01JCK9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2.1a Elect Li Ning as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Also, the roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability.
2.1b Elect Li Qilin as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. The remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 213 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Li Ning Company Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.1c Elect Chan Chung Bun, Bunny as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Likewise, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.2 Authorize Board to Fix the Remuneration of Mgmt For For Directors
3 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
4 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Liberty Holdings Ltd
Meeting Date: 05/18/2018 Country: South Africa Meeting Type: Annual Ticker: LBH
Primary ISIN: ZAE000127148 Primary SEDOL: 6515058
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2017
2.1 Re-elect Santie Botha as Director Mgmt For For
2.2 Re-elect Tony Cunningham as Director Mgmt For For
2.3 Re-elect Dr Sibusiso Sibisi as Director Mgmt For For
2.4 Re-elect Yunus Suleman as Director Mgmt For For
2.5 Elect Nooraya Khan as Director Mgmt For For
Page 214 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Liberty Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Reappoint PwC Inc. as Auditors of the Company Mgmt For For with A du Preez as the Individual Registered Auditor Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
4 Place Authorised but Unissued Ordinary Shares Mgmt For For Under Control of Directors
5 Authorise Board to Issue Shares for Cash Mgmt For For
6.1 Elect Yunus Suleman as Chairman of the Group Mgmt For For Audit and Actuarial Committee
6.2 Re-elect Angus Band as Member of the Group Mgmt For For Audit and Actuarial Committee
6.3 Re-elect Tony Cunningham as Member of the Mgmt For For Group Audit and Actuarial Committee
6.4 Elect Nooraya Khan as Member of the Group Mgmt For For Audit and Actuarial Committee
6.5 Re-elect Jim Sutcliffe as Member of the Group Mgmt For For Audit and Actuarial Committee
7 Approve Remuneration Policy Mgmt For Against
Voter Rationale: All exceptional awards should be clearly linked to performance and demonstrate shareholder value creation in addition to and above that expected of directors as a normal part of their jobs.
8 Approve Remuneration Report Mgmt For Against
Voter Rationale: All exceptional awards should be clearly linked to performance and demonstrate shareholder value creation in addition to and above that expected of directors as a normal part of their jobs. Furthermore, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Special Resolutions Mgmt
1 Authorise Directors to Issue Any Ordinary Mgmt For Against Shares of the Company for the Implementation of Any Share Incentive Scheme
Voter Rationale: Capital issuance authority should be for share plans that incentivise long-term value creation.
2.1 Approve Fees for the Chairman of the Board Mgmt For For
2.2 Approve Fees for the Lead Independent Director Mgmt For For
2.3 Approve Fees for the Board Member Mgmt For For
2.4 Approve Fees for the International Board Mgmt For For Member, Member of Committees and Subsidiary Board and Chairman of a Sub-committee
2.5 Approve Fees for the International Board Mgmt For For Member, Member of Committees and Subsidiary Board and Chairman of a Committee
Page 215 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Liberty Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.6 Approve Fees for the Chairman of the Group Mgmt For For Audit and Actuarial Committee
2.7 Approve Fees for the Member of the Group Mgmt For For Audit and Actuarial Committee
2.8 Approve Fees for the Chairman of the Group Mgmt For For Actuarial Committee
2.9 Approve Fees for the Member of the Group Mgmt For For Actuarial Committee
2.10 Approve Fees for the Chairman of the Group Mgmt For For Risk Committee
2.11 Approve Fees for the Member of the Group Risk Mgmt For For Committee
2.12 Approve Fees for the Chairman of the Group Mgmt For For Remuneration Committee
2.13 Approve Fees for the Member of the Group Mgmt For For Remuneration Committee
2.14 Approve Fees for the Chairman of the Group Mgmt For For Social, Ethics and Transformation Committee
2.15 Approve Fees for the Member of the Group Mgmt For For Social, Ethics and Transformation Committee
2.16 Approve Fees for the Member of the Group Mgmt For For Directors' Affairs Committee
2.17 Approve Fees for the Chairman of the Group IT Mgmt For For Committee
2.18 Approve Fees for the Member of the Group IT Mgmt For For Committee
2.19 Approve Fees for the Chairman of the STANLIB Mgmt For For Limited Board
2.20 Approve Fees for the Member of the STANLIB Mgmt For For Limited Board
2.21 Approve Fees for the Chairman of the Liberty Mgmt For For Short Term Insurance Board
2.22 Approve Fees for the Member of the Liberty Mgmt For For Short Term Insurance Board
2.23 Approve Fee Per Ad Hoc Board Meeting Mgmt For For
2.24 Approve Fee Per Ad Hoc Board Committee Mgmt For For Meeting
3.1 Approve Financial Assistance to Related or Mgmt For For Inter-related Company
Page 216 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Liberty Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.2 Approve Financial Assistance to Any Employee, Mgmt For Against Director, Prescribed Officer or Other Person or Any Trust Established for their Benefit in Terms of Any Share Incentive Scheme
Voter Rationale: Shareholder funds should not be used to grant financial assistance to directors, officers or related persons without a clearly disclosed and fully justified explanation.
4 Authorise Repurchase of Issued Share Capital Mgmt For For
5 Approve Creation of a New Class of Preference Mgmt For For Shares
6 Amend Restricted Share Plan Mgmt For Against
Voter Rationale: A vote AGAINST this item is warranted:- The amendment to the Plan would entitle the Remuneration Committee to exercise open-ended discretion to determine the treatment of outstanding equity awards for participants who are no longer employees. The previous scheme rules, which are generally aligned to good market practice standards in South Africa, are preferred to this open-ended discretion.
Lite-On Technology Corp.
Meeting Date: 06/22/2018 Country: Taiwan Meeting Type: Annual Ticker: 2301
Primary ISIN: TW0002301009 Primary SEDOL: 6519481
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Approve Cash Distribution from Capital Reserve Mgmt For For
4 Amend Articles of Association Mgmt For For
5 Amend Rules and Procedures for Election of Mgmt For For Directors
6 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
7 Approve Waiver of Capital Increase in Spin-off Mgmt For For Subsidiary Skyla Corp.
Page 217 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Localiza Rent a Car S.A.
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Special Ticker: RENT3
Primary ISIN: BRRENTACNOR4 Primary SEDOL: B08K3S0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles Mgmt For For
2 Consolidate Bylaws Mgmt For For
Localiza Rent a Car S.A.
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Annual Ticker: RENT3
Primary ISIN: BRRENTACNOR4 Primary SEDOL: B08K3S0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Approve Remuneration of Company's Mgmt For For Management
Lojas Americanas S.A.
Meeting Date: 04/30/2018 Country: Brazil Meeting Type: Special Ticker: LAME4
Primary ISIN: BRLAMEACNPR6 Primary SEDOL: 2516710
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Article 5 to Reflect Changes in Capital Mgmt For For
2 Consolidate Bylaws Mgmt For For
Page 218 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Lojas Americanas S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Incentive Plan with Restricted Shares Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
Lojas Americanas S.A.
Meeting Date: 04/30/2018 Country: Brazil Meeting Type: Annual Ticker: LAME4
Primary ISIN: BRLAMEACNPR6 Primary SEDOL: 2516710
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Holders of Preferred Shareholders Mgmt
1.1 Elect Lia Machado de Matos as Director SH None Abstain Appointed by Preferred Shareholder Voter Rationale: Minority shareholders have appointed competing nominees for the single board seat reserved for preferred minority representation. While both candidates appear to be well-qualified, a vote FOR minority nominee Ricardo Reisen de Pinho, presented under Item 1.2, is recommended because the candidate would likely bring more experience to the company's board of directors, given his previous participation in boards and fiscal councils of publicly-traded companies.As minority shareholders can only elect a single board nominee, an ABSTAIN recommendation is warranted for Item 1.1. This recommendation, however, should not be interpreted as a negative assessment of the experience or qualifications of the competing minority nominee Lia Machado de Matos.
1.2 Elect Ricardo Reisen de Pinho as Director SH None For Appointed by Preferred Shareholder
2 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
3 fix Number of Fiscal Council Members Mgmt For For
4.1 Elect Ricardo Scalzo as Fiscal Council Member SH None Abstain and Andre Amaral de Castro Leal as Alternate Appointed by Minority Shareholder Voter Rationale: There are competing nominees for the preferred minority representation at the company's fiscal council. While all candidates appear to be well-qualified to serve as the fiscal council minority shareholder representatives, there are no known concerns regarding the performance of incumbent candidates Mauricio Rocha Alves Carvalho and Monica Hojaij Carvalho Molina (alternate). Furthermore, they would likely bring greater minority representation to the fiscal council, since the competing nominees Ricardo Scalzo and Andre Amaral de Castro Leal (alternate) are currently fiscal council members appointed by the controlling shareholders, according to the company's reference form.As such, a vote FOR Item 4.2 is warranted. As minority shareholders can elect only one fiscal council representative, and his/her alternate, an ABSTAIN vote recommendation is warranted for the competing nominees presented under Item 4.1. This recommendation, however, should not be interpreted as a negative assessment of the nominees' experience or qualifications.
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Lojas Americanas S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.2 Elect Mauricio Rocha Alves Carvalho as Fiscal SH None For Council Member and Monica Hojaij Carvalho Molina as Alternate Appointed by Minority Shareholder
Longfor Properties Co. Ltd
Meeting Date: 06/08/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 960
Primary ISIN: KYG5635P1090 Primary SEDOL: B56KLY9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2a Approve Final Dividend Mgmt For For
2b Approve Special Dividend Mgmt For For
3.1 Elect Zhao Yi as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3.2 Elect Frederick Peter Churchhouse as Director Mgmt For For
3.3 Elect Chan Chi On, Derek as Director Mgmt For For
3.4 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
8 Change English Name and Chinese Dual Foreign Mgmt For For Name
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
LUKOIL PJSC
Meeting Date: 06/21/2018 Country: Russia Meeting Type: Annual Ticker: LKOH
Primary ISIN: RU0009024277 Primary SEDOL: B59SNS8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Annual Report, Financial Statements, Mgmt For For and Allocation of Income, Including Dividends
Elect 11 Directors by Cumulative Voting Mgmt
2.1 Elect Vagit Alekperov as Director Mgmt None For
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.2 Elect Viktor Blazheev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Moreover, in the context of increasingly complex international accounting standards, the audit committee benefits from members who have a good and recent understanding of the accounting rules and of the audit process. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.3 Elect Toby Gati as Director Mgmt None For
2.4 Elect Valery Grayfer as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties. Moreover, given the non-independent status of the Chairman, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
2.5 Elect Igor Ivanov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.6 Elect Aleksandr Leyfrid as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
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LUKOIL PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.7 Elect Ravil Maganov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.8 Elect Roger Munnings as Director Mgmt None For
2.9 Elect Richard Matzke as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.10 Elect Ivan Pictet as Director Mgmt None For
2.11 Elect Leonid Fedun as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.12 Elect Lubov Khoba as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Three Members of Audit Commission Mgmt
3.1 Elect Ivan Vrublevsky as Member of Audit Mgmt For For Commission
3.2 Elect Pavel Suloyev as Member of Audit Mgmt For For Commission
3.3 Elect Aleksandr Surkov as Member of Audit Mgmt For For Commission
4.1 Approve Remuneration of Directors for Fiscal Mgmt For For 2017
4.2 Approve Remuneration of New Directors for Mgmt For For Fiscal 2018
5.1 Approve Remuneration of Members of Audit Mgmt For For Commission for Fiscal 2017
5.2 Approve Remuneration of New Members of Mgmt For For Audit Commission for Fiscal 2018
6 Ratify Auditor Mgmt For For
7 Amend Charter Mgmt For For
8 Approve Related-Party Transaction Re: Liability Mgmt For For Insurance for Directors ,Executives, and Companies
Page 222 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Luzhou Laojiao Company Limited
Meeting Date: 06/27/2018 Country: China Meeting Type: Annual Ticker: 000568
Primary ISIN: CNE000000GF2 Primary SEDOL: 6517485
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Report of the Board of Directors Mgmt For For
2 Approve Report of the Board of Supervisors Mgmt For For
3 Approve Financial Statements Mgmt For For
4 Approve Annual Report Mgmt For For
5 Approve Profit Distribution Mgmt For For
6 Approve Appointment of Auditor Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Amend Articles of Association Mgmt For Against
Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
8 Approve Remuneration of Independent Mgmt For For Directors and External Directors
ELECT NON-INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
9.1 Elect Liu Miao as Non-Independent Director Mgmt For For
9.2 Elect Lin Feng as Non-Independent Director Mgmt For For
9.3 Elect Wang Hongbo as Non-Independent Mgmt For For Director
9.4 Elect Shen Caihong as Non-Independent Mgmt For For Director
9.5 Elect Qian Xu as Non-Independent Director Mgmt For For
9.6 Elect Ying Hanjie as Non-Independent Director Mgmt For For
ELECT INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
10.1 Elect Du Kunlun as Independent Director Mgmt For For
10.2 Elect Xu Guoxiang as Independent Director Mgmt For For
10.3 Elect Tan Lili as Independent Director Mgmt For For
10.4 Elect Liu Junhai as Independent Director Mgmt For For
ELECT SUPERVISORS VIA CUMULATIVE VOTING Mgmt
11.1 Elect Wu Qin as Supervisor Mgmt For For
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Luzhou Laojiao Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11.2 Elect Lian Jin as Supervisor Mgmt For For
11.3 Elect Cao Cong as Supervisor Mgmt For For
Magazine Luiza SA
Meeting Date: 04/13/2018 Country: Brazil Meeting Type: Annual Ticker: MGLU3
Primary ISIN: BRMGLUACNOR2 Primary SEDOL: B4975P9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Fix Number of Directors at Seven Mgmt For For
4 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
5 Elect Directors Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
6 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 7, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Magazine Luiza SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.1 Percentage of Votes to Be Assigned - Elect Luiza Mgmt None Abstain Helena Trajano Inacio Rodrigues as Director
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marcelo Jose Ferreira e Silva as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Carlos Renato Donzelli as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.4 Percentage of Votes to Be Assigned - Elect Ines Mgmt None Abstain Correa de Souza as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.5 Percentage of Votes to Be Assigned - Elect Jose Mgmt None Abstain Paschoal Rossetti as Independent Director
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Betania Tanure de Barros as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.7 Percentage of Votes to Be Assigned - Elect Silvio Mgmt None Abstain Romero de Lemos Meira as Independent Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 Elect Fiscal Council Members Mgmt For Abstain
Voter Rationale: Magazine Luiza SA (Magazine Luiza) has disclosed the management fiscal council nominees as a bundled election presented under Item 10 of this meeting agenda, while the separate election of a minority fiscal council representative and alternate is presented under Item 12.1 (Elect Eduardo Christovam Galdi Mestieri as Fiscal Council Member Appointed by Minority Shareholder) and Item 12.2 (Elect Thiago Costa Jacinto as Alternate Fiscal Council Member Appointed by Minority Shareholder), respectively.In light of the existing restrictions to present valid voting options on both election proposals (management and minority), an ABSTAIN recommendation is issued for the management nominees presented under Item 10, to allow minority shareholders to concentrate their votes on the election of a minority fiscal council nominee, and alternate, presented under Items 12.1 and 12.2, for which the vote recommendations remained unchanged.
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Magazine Luiza SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
12.1 Elect Eduardo Christovam Galdi Mestieri as SH None For Fiscal Council Member Appointed by Minority Shareholder
12.2 Elect Thiago Costa Jacinto as Alternate Fiscal SH None For Council Member Appointed by Minority Shareholder
13 Approve Remuneration of Company's Mgmt For For Management
Magazine Luiza SA
Meeting Date: 04/13/2018 Country: Brazil Meeting Type: Special Ticker: MGLU3
Primary ISIN: BRMGLUACNOR2 Primary SEDOL: B4975P9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Ratify Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2016
2 Reconstitute Profit Reserves from Previous Mgmt For For Years
3 Amend Articles and Consolidate Bylaws Mgmt For Against
Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights. Furthermore, it is inappropriate for several voting items to be bundled into one resolution. Shareholders should be able to vote each item separately.
Mahindra & Mahindra Financial Services Limited
Meeting Date: 06/14/2018 Country: India Meeting Type: Special Ticker: M&MFIN
Primary ISIN: INE774D01024 Primary SEDOL: B8F8822
Page 226 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Mahindra & Mahindra Financial Services Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Approve Increase in Borrowing Powers Mgmt For For
2 Approve Issuance of Secured/Unsecured Mgmt For For Redeemable Non-Convertible Debentures on Private Placement Basis
Malayan Banking Berhad
Meeting Date: 04/12/2018 Country: Malaysia Meeting Type: Annual Ticker: MAYBANK
Primary ISIN: MYL1155OO000 Primary SEDOL: 6556325
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Financial Year Ended
2 Approve Final Dividends Mgmt For For
3 Elect Mohaiyani binti Shamsudin as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
4 Elect Edwin Gerungan as Director Mgmt For For
5 Elect Che Zakiah binti Che Din as Director Mgmt For For
6 Approve Remuneration of Directors Mgmt For For
7 Approve Director's Benefits Mgmt For For
8 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
9 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
10 Approve Issuance of New Ordinary Shares Mgmt For For Under the Dividend Reinvestment Plan
11 Approve Grant of Shares to Abdul Farid bin Alias Mgmt For Against Under the Proposed ESS Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, this plan could lead to excessive dilution. Finally, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
Page 227 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Malayan Banking Berhad
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12 Amend Memorandum and Articles of Association Mgmt For For
Malayan Banking Berhad
Meeting Date: 04/12/2018 Country: Malaysia Meeting Type: Special Ticker: MAYBANK
Primary ISIN: MYL1155OO000 Primary SEDOL: 6556325
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Subscription by Permodalan Nasional Mgmt For For Berhad of New Ordinary Shares in Maybank Asset Management Group Berhad, a Wholly-Owned Subsidiary of the Company
Massmart Holdings Ltd
Meeting Date: 05/24/2018 Country: South Africa Meeting Type: Annual Ticker: MSM
Primary ISIN: ZAE000152617 Primary SEDOL: B3V5GG2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1 Elect Susan Muigai as Director Mgmt For Against
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2 Elect Roger Burnley as Director Mgmt For Against
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
Page 228 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Massmart Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Re-elect Chris Seabrooke as Director Mgmt For Against
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness. Lastly, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
4 Re-elect Guy Hayward as Director Mgmt For For
Voter Rationale: For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5 Reappoint Ernst & Young Inc as Auditors of the Mgmt For For Company with Roger Hillen as the Audit Partner
6.1 Re-elect Chris Seabrooke as Chairman of the Mgmt For Against Audit Committee Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6.2 Re-elect Dr Lulu Gwagwa as Member of the Mgmt For For Audit Committee
6.3 Re-elect Phumzile Langeni as Member of the Mgmt For Against Audit Committee Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
7 Authorise Board to Issue Shares for Cash Mgmt For For
8 Approve Remuneration Policy Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, this plan could lead to excessive dilution.
9 Approve Remuneration Implementation Report Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, this plan could lead to excessive dilution.
Special Resolutions Mgmt
1 Authorise Repurchase of Issued Share Capital Mgmt For Against
Voter Rationale: Any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company.
2.1 Approve Fees of the Chairman of the Board Mgmt For For
2.2 Approve Fees of the Deputy Chairman of the Mgmt For For Board
2.3 Approve Fees of the Independent Non-Executive Mgmt For For Directors
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Massmart Holdings Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.4 Approve Fees of the Audit Committee Chairman Mgmt For For
2.5 Approve Fees of the Risk Committee Chairman Mgmt For For
2.6 Approve Fees of the Remuneration Committee Mgmt For For Chairman
2.7 Approve Fees of the Nomination and Social and Mgmt For For Ethics Committee Chairmen
2.8 Approve Fees of the Audit Committee Members Mgmt For For
2.9 Approve Fees of the Other Board Committee Mgmt For For Members
3 Approve Financial Assistance in Terms of Mgmt For For Section 45 of the Companies Act
Mavi Giyim Sanayi ve Ticaret A.S.
Meeting Date: 05/02/2018 Country: Turkey Meeting Type: Annual Ticker: MAVI
Primary ISIN: TREMAVI00037 Primary SEDOL: BF5M481
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Approve Working Principles of the General Mgmt For For Assembly
3 Accept Board Report Mgmt For For
4 Accept Audit Report Mgmt For For
5 Accept Financial Statements Mgmt For For
6 Ratify Director Appointments Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
7 Approve Discharge of Board Mgmt For For
8 Elect Directors Mgmt For For
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
Page 230 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Mavi Giyim Sanayi ve Ticaret A.S.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Approve Remuneration Policy and Director Mgmt For For Remuneration for 2017
10 Approve Director Remuneration Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
11 Ratify External Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
12 Approve Profit Distribution Policy Mgmt For For
13 Approve Allocation of Income Mgmt For For
14 Amend Company Articles Mgmt For For
15 Approve Donation Policy Mgmt For For
16 Receive Information on Donations Made in 2017 Mgmt
17 Approve Upper Limit of Donations for 2018 Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
18 Receive Information on Guarantees, Pledges Mgmt and Mortgages Provided by the Company to Third Parties
19 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
20 Wishes Mgmt
MediaTek Inc.
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 2454
Primary ISIN: TW0002454006 Primary SEDOL: 6372480
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Plan on Profit Distribution Mgmt For For
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The SEI Emerging Markets Equity Fund All Votes Report
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MediaTek Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Cash Distribution from Capital Reserve Mgmt For For
4 Amend Procedures for Endorsement and Mgmt For Against Guarantees Voter Rationale: A vote against is warranted given the board fails to provide detailed justifications to the proposed amendments, which could increase the company’s risk exposure associated with such type of transactions.
5 Approve Issuance of Restricted Stocks Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
6.1 Elect MING-KAI TSAI, with SHAREHOLDER NO.1 Mgmt For For as Non-independent Director Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
6.2 Elect RICK TSAI, with SHAREHOLDER Mgmt For For NO.374487 as Non-independent Director Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
6.3 Elect CHING-JIANG HSIEH, with SHAREHOLDER Mgmt For For NO.11 as Non-independent Director
6.4 Elect CHENG-YAW SUN, with SHAREHOLDER Mgmt For For NO.109274 as Non-independent Director
6.5 Elect KENNETH KIN, with SHAREHOLDER Mgmt For For NO.F102831XXX as Non-independent Director
6.6 Elect WAYNE LIANG, with SHAREHOLDER Mgmt For For NO.295186 as Non-independent Director
6.7 Elect CHUNG-YU WU, with SHAREHOLDER Mgmt For For NO.1512 as Independent Director Voter Rationale: In the context of increasingly complex international accounting standards, the audit committee benefits from members who have a good and recent understanding of the accounting rules and of the audit process.
6.8 Elect PENG-HENG CHANG, with SHAREHOLDER Mgmt For For NO.A102501XXX as Independent Director
6.9 Elect MING-JE TANG, with SHAREHOLDER Mgmt For For NO.A100065XXX as Independent Director
7 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors and Representatives
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Metropolitan Bank & Trust Company
Meeting Date: 04/25/2018 Country: Philippines Meeting Type: Annual Ticker: MBT
Primary ISIN: PHY6028G1361 Primary SEDOL: 6514442
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of the Annual Meeting Held on Mgmt For For April 26, 2017
2 Ratify All Acts and Resolutions of the Board of Mgmt For For Directors, Management and All Committees from April 26, 2017 to April 24, 2018
Elect 12 Directors by Cumulative Voting Mgmt
3.1 Elect Arthur Ty as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board; support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate. Furthermore, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.2 Elect Francisco C. Sebastian as Director Mgmt For For
3.3 Elect Fabian S. Dee as Director Mgmt For For
3.4 Elect Jesli A. Lapus as Director Mgmt For For
3.5 Elect Alfred V. Ty as Director Mgmt For For
3.6 Elect Robin A. King as Director Mgmt For For
3.7 Elect Rex C. Drilon II as Director Mgmt For For
3.8 Elect Edmund A. Go as Director Mgmt For For
3.9 Elect Francisco F. Del Rosario, Jr. as Director Mgmt For For
3.10 Elect Vicente R. Cuna, Jr. as Director Mgmt For For
3.11 Elect Edgar O. Chua as Director Mgmt For For
3.12 Elect Solomon S. Cua as Director Mgmt For For
4 Appoint Sycip Gorres Velayo & Co. as External Mgmt For For Auditors Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
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Mexichem S.A.B. de C.V.
Meeting Date: 04/23/2018 Country: Mexico Meeting Type: Annual Ticker: MEXCHEM *
Primary ISIN: MX01ME050007 Primary SEDOL: 2434760
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Accept CEO's Report and Board's Report on Mgmt For For Operations and Results
1.2 Accept Individual and Consolidated Financial Mgmt For For Statements
1.3 Accept Report on Compliance of Fiscal Mgmt For For Obligations
2 Present Audit and Corporate Practices Mgmt For For Committee's Report
3.1 Approve Net Consolidated Profit after Minority Mgmt For For Interest in the Amount of USD 194.3 Million
3.2 Approve Allocation of Income in the Amount of Mgmt For For MXN 5.37 Billion (USD 194.3 Million)
3.3 Approve Allocation of Individual and or Mgmt For For Consolidated Profits and or Losses Referred to in Items 3.1 and 3.2 to the Accumulated Net Income Account
4.1 Ratify Antonio Del Valle Ruiz as Honorary and Mgmt For Against Lifetime Board Chairman Voter Rationale: Directors should be subject to re-election at regular intervals ensure that the board retains an open and critical perspective and accountability to shareholders.
4.2a Ratify Juan Pablo Del Valle Perochena as Board Mgmt For For Member Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
4.2b Ratify Adolfo Del Valle Ruiz as Board Member Mgmt For For
4.2c Ratify Ignacio Del Valle Ruiz as Board Member Mgmt For Against
Voter Rationale: It is not appropriate for a director convicted of market misconduct to remain on the board.
4.2d Ratify Antonio Del Valle Perochena as Board Mgmt For For Member
4.2e Ratify Maria Guadalupe Del Valle Perochena as Mgmt For For Board Member
4.2f Ratify Jaime Ruiz Sacristan as Board Member Mgmt For For
4.2g Ratify Fernando Ruiz Sahagun as Board Member Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 234 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Mexichem S.A.B. de C.V.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.2h Ratify Eugenio Santiago Clariond Reyes as Mgmt For For Board Member
4.2i Ratify Eduardo Tricio Haro as Board Member Mgmt For For
4.2j Ratify Guillermo Ortiz Martinez as Board Mgmt For For Member
4.2k Ratify Divo Milan Haddad as Board Member Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.2l Ratify Alma Rosa Moreno Razo as Board Mgmt For For Member
4.3a Ratify Fernando Ruiz Sahagun as Chairman of Mgmt For Against Audit Committee Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.3b Ratify Eugenio Santiago Clariond Reyes as Mgmt For For Chairman of Corporate Practices Committee
4.4a Ratify Juan Pablo Del Valle Perochena as Mgmt For For Chairman of Board of Directors
4.4b Ratify Juan Pablo Del Rio Benitez as Secretary Mgmt For For (without being a member) of Board
5 Approve Remuneration of Chairman of Board, Mgmt For For Audit Committee and Corporate Practices Committee; Approve Remuneration of Members of Board and Members of Audit Committee and Corporate Practices Committee
6.1 Approve Cancellation of Balance of Amount Mgmt For For Approved to be Used for Acquisition of Company's Shares
6.2 Set Aggregate Nominal Amount of Share Mgmt For For Repurchase Reserve at USD 401.3 Million
7 Accept Report on Adoption or Modification of Mgmt For For Policies in Share Repurchases of Company
8 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
Micro-Star International Co., Ltd.
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 2377
Primary ISIN: TW0002377009 Primary SEDOL: 6133450
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Micro-Star International Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
4 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
5 Amend Procedures for Lending Funds to Other Mgmt For For Parties
6 Amend Procedures for Endorsement and Mgmt For For Guarantees
7 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
8 Amend Trading Procedures Governing Mgmt For For Derivatives Products
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
9.1 Elect Hsu Hsiang with Shareholder No. 1 as Mgmt For For Non-independent Director
9.2 Elect Huang Chin-Ching with Shareholder No. 5 Mgmt For For as Non-independent Director
9.3 Elect Yu Hsien-Neng with Shareholder No. 9 as Mgmt For For Non-independent Director
9.4 Elect Lin Wen-Tung with Shareholder No. 10 as Mgmt For For Non-independent Director
9.5 Elect Chiang Sheng-Chang with Shareholder No. Mgmt For For 36345 as Non-independent Director
9.6 Elect Kuo Hsu-Kuang with ID No. A122756XXX Mgmt For For as Non-independent Director
9.7 Elect Liao Chun-Keng with Shareholder No. 492 Mgmt For For as Non-independent Director
9.8 Elect Hung Yu-Sheng with Shareholder No. Mgmt For For 11864 as Non-independent Director
9.9 Elect Wang Sung-Chou with ID No. P120346XXX Mgmt For Against as Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
9.10 Elect Liu Cheng-Yi with ID No. P120217XXX as Mgmt For For Independent Director
9.11 Elect Hsu Kao-Shan with Shareholder No. 461 Mgmt For For as Independent Director
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Micro-Star International Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
Mobile Telesystems PJSC
Meeting Date: 06/28/2018 Country: Russia Meeting Type: Annual Ticker: MBT
Primary ISIN: RU0007775219 Primary SEDOL: B59FPS3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1.1 Elect Meeting Chairman Mgmt For For
1.2 Resolve to Announce Voting Results and Mgmt For For Resolutions on General Meeting
2.1 Approve Annual Report and Financial Mgmt For For Statements
2.2 Approve Allocation of Income and Dividends of Mgmt For For RUB 23.40 per Share
Elect Nine Directors by Cumulative Voting Mgmt
3.1 Elect Artyom Zasursky as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.2 Elect Ron Sommer as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.3 Elect Aleksey Katkov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.4 Elect Aleksey Kornya as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
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Mobile Telesystems PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.5 Elect Stanley Miller as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.6 Elect Vsevolod Rozanov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
3.7 Elect Regina von Flemming as Director Mgmt None For
3.8 Elect Thomas Holtrop as Director Mgmt None For
3.9 Elect Volfgang Shyussel as Director Mgmt None For
Elect Three Members of Audit Commission Mgmt
4.1 Elect Irina Borisenkova as Member of Audit Mgmt For For Commission
4.2 Elect Maksim Mamonov as Member of Audit Mgmt For For Commission
4.3 Elect Anatoly Panarin as Member of Audit Mgmt For For Commission
5 Ratify Auditor Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
6 Approve New Edition of Charter Mgmt For For
7 Approve New Edition of Regulations on Board of Mgmt For For Directors
8 Approve New Edition of Regulations on Mgmt For Against Remuneration of Directors Voter Rationale: A vote AGAINST this item is warranted because the proposed amounts are considered excessive in comparison with market practices.
9 Approve Reorganization of Company via Merger Mgmt For For with OOO Stream Digital and AO SSB
10 Amend Charter Re: Reorganization Mgmt For For
11 Approve Reduction in Share Capital Mgmt For For
12 Amend Charter to Reflect Changes in Capital Mgmt For For
MOL Hungarian Oil and Gas Plc
Meeting Date: 04/12/2018 Country: Hungary Meeting Type: Annual Ticker: MOL
Primary ISIN: HU0000153937 Primary SEDOL: BD5ZXH8
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MOL Hungarian Oil and Gas Plc
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Use of Electronic Vote Collection Mgmt For For Method
2 Elect Keeper of Minutes, Shareholders to Mgmt For For Authenticate Minutes, and Counter of Votes
3 Approve Standalone and Consolidated Financial Mgmt For For Statements and Statutory Reports Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
4 Approve Dividends Mgmt For For
5 Approve Company's Corporate Governance Mgmt For For Statement
6 Approve Discharge of Management Board Mgmt For For
7 Approve Auditors and Authorize Board to Fix Mgmt For For Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
8 Approve Report on Share Repurchase Program Mgmt For For Approved at 2017 AGM
9 Authorize Share Repurchase Program Mgmt For Against
Voter Rationale: Shares should not be repurchased at a premium/discount to the market price of more than 10%. Furthermore, any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company.
10 Reelect Zsolt Hernadi as Member of the Board Mgmt For For of Directors
11 Elect Zoltan Aldott as Supervisory Board Mgmt For For Member
12 Elect Andras Lanczi as Supervisory Board Mgmt For Against Member Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
13 Elect Csaba Szabo as Employee Representative Mgmt For Against to Supervisory Board Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
Mondi Ltd
Meeting Date: 05/16/2018 Country: South Africa Meeting Type: Annual Ticker: MND
Primary ISIN: ZAE000156550 Primary SEDOL: B41LJ57
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Mondi Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Common Business: Mondi Limited and Mondi plc Mgmt
1 Elect Stephen Young as Director Mgmt For For
2 Re-elect Tanya Fratto as Director Mgmt For For
3 Re-elect Stephen Harris as Director Mgmt For For
4 Re-elect Andrew King as Director Mgmt For For
5 Re-elect Peter Oswald as Director Mgmt For For
6 Re-elect Fred Phaswana as Director Mgmt For For
7 Re-elect Dominique Reiniche as Director Mgmt For For
8 Re-elect David Williams as Director Mgmt For Against
Voter Rationale: Females represent less than 30 percent.
9 Re-elect Tanya Fratto as Member of the DLC Mgmt For For Audit Committee
10 Re-elect Stephen Harris as Member of the DLC Mgmt For For Audit Committee
11 Elect Stephen Young as Member of the DLC Mgmt For For Audit Committee
Mondi Limited Business Mgmt
12 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2017
13 Approve Remuneration Policy Mgmt For For
14 Approve Remuneration Report Mgmt For For
15 Approve Non-executive Directors' Fees Mgmt For For
16 Approve Rationalisation of the Fee Structure of Mgmt For For the Non-executive Directors
17 Approve Final Dividend Mgmt For For
18 Approve Special Dividend Mgmt For For
19 Reappoint PricewaterhouseCoopers Inc as Mgmt For For Auditors of the Company with Michal Kotze as the Registered Auditor
20 Authorise the DLC Audit Committee to Fix Mgmt For For Remuneration of Auditors
21 Approve Financial Assistance in Terms of Mgmt For For Section 44 and/or 45 of the SA Companies Act
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Mondi Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
22 Place Authorised but Unissued Ordinary Shares Mgmt For For Under Control of Directors
23 Place Authorised but Unissued Special Mgmt For For Converting Shares Under Control of Directors
24 Authorise Board to Issue Shares for Cash Mgmt For For
25 Authorise Repurchase of Issued Share Capital Mgmt For For
Mondi plc Business Mgmt
26 Accept Financial Statements and Statutory Mgmt For For Reports
27 Approve Remuneration Report Mgmt For For
28 Approve Final Dividend Mgmt For For
29 Approve Special Dividend Mgmt For For
30 Reappoint PricewaterhouseCoopers LLP as Mgmt For For Auditors
31 Authorise the DLC Audit Committee to Fix Mgmt For For Remuneration of Auditors
32 Authorise Issue of Equity with Pre-emptive Mgmt For For Rights
33 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights
34 Authorise Market Purchase of Ordinary Shares Mgmt For For
MRV Engenharia e Participacoes SA
Meeting Date: 04/19/2018 Country: Brazil Meeting Type: Annual/Special Ticker: MRVE3
Primary ISIN: BRMRVEACNOR2 Primary SEDOL: B235JN1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Also, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income Mgmt For For
3 Approve Capital Budget Mgmt For For
4 Approve Remuneration of Company's Mgmt For For Management
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MRV Engenharia e Participacoes SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Stock Option Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
6 Approve Interim Dividends Mgmt For For
7 Authorize Capitalization of Reserves and Amend Mgmt For For Article 5 Accordingly
8 Amend Article 15 Mgmt For For
9 Amend Article 21 Mgmt For For
10 Install Audit Committee Mgmt For For
11 Approve Restructuring of the Statutory Mgmt For For Committees
12 Amend Article 23 Mgmt For For
13 Amend Article 24 Mgmt For For
14 Add Paragraph 9 to Article 24 Mgmt For For
15 Amend Article 25 Mgmt For For
16 Amend Articles Re: B3 S.A. Mgmt For For
17 Consolidate Bylaws Mgmt For For
18 Approve Minutes of Meeting With Exclusion of Mgmt For For Shareholder Names
19 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
MRV Engenharia e Participacoes SA
Meeting Date: 05/17/2018 Country: Brazil Meeting Type: Special Ticker: MRVE3
Primary ISIN: BRMRVEACNOR2 Primary SEDOL: B235JN1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Creation of New Board Seat Mgmt For For
2 Elect Antonio Kandir as Director Mgmt For For
3 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes for Each Supported Nominee?
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MRV Engenharia e Participacoes SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 3, Votes Will Be Automatically Distributed in Equal % Amongst Candidates You Chose. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Antonio Kandir as Director
5 Amend Article 15 Re: Increase in Board Size Mgmt For For
MTN Group Ltd
Meeting Date: 05/24/2018 Country: South Africa Meeting Type: Annual Ticker: MTN
Primary ISIN: ZAE000042164 Primary SEDOL: 6563206
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Re-elect Christine Ramon as Director Mgmt For For
2 Re-elect Alan Harper as Director Mgmt For For
3 Re-elect Peter Mageza as Director Mgmt For For
4 Re-elect Dawn Marole as Director Mgmt For For
5 Re-elect Koosum Kalyan as Director Mgmt For For
6 Re-elect Azmi Mikati as Director Mgmt For For
7 Re-elect Jeff van Rooyen as Director Mgmt For For
8 Re-elect Christine Ramon as Member of the Mgmt For For Audit Committee
9 Re-elect Paul Hanratty as Member of the Audit Mgmt For For Committee
10 Re-elect Peter Mageza as Member of the Audit Mgmt For For Committee
11 Re-elect Jeff van Rooyen as Member of the Mgmt For For Audit Committee
12 Reappoint PricewaterhouseCoopers Inc as Mgmt For For Auditors of the Company Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
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MTN Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
13 Reappoint SizweNtsalubaGobodo Inc as Auditors Mgmt For For of the Company Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
14 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
15 Authorise Board to Issue Shares for Cash Mgmt For For
16 Approve Remuneration Policy Mgmt For For
17 Approve Remuneration Implementation Report Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over time. Furthermore, all exceptional awards should be clearly linked to performance and demonstrate shareholder value creation in addition to and above that expected of directors as a normal part of their jobs.
18 Approve Remuneration of Non-executive Mgmt For For Directors
19 Authorise Repurchase of Issued Share Capital Mgmt For For
20 Approve Financial Assistance to Subsidiaries and Mgmt For For Other Related and Inter-related Entities
21 Approve Financial Assistance to Directors, Mgmt For For Prescribed Officers and Employee Share Scheme Beneficiaries
Muangthai Leasing Public Co Ltd
Meeting Date: 04/20/2018 Country: Thailand Meeting Type: Annual Ticker: MTLS
Primary ISIN: TH6068010003 Primary SEDOL: BSNLDN9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Meeting Mgmt For For
2 Approve Operating Results Mgmt For For
3 Approve Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividend Mgmt For For Payment
5.1 Elect Kongkeaw Piamduaytham as Director Mgmt For For
5.2 Elect Nongnuch Dawasuwan as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
Page 244 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Muangthai Leasing Public Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve Remuneration of Directors Mgmt For For
7 Approve EY Office Limited as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
8 Authorize Issuance of Debentures Mgmt For For
9 Change Company Name to Muangthai Capital Mgmt For For Public Company Limited
10 Amend Memorandum and Articles of Association Mgmt For For Re: Change of Company's Name, Symbol and Seal
11 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Nanya Technology Corp.
Meeting Date: 05/24/2018 Country: Taiwan Meeting Type: Annual Ticker: 2408
Primary ISIN: TW0002408002 Primary SEDOL: 6283601
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Amend Trading Procedures Governing Mgmt For For Derivatives Products
NIEN MADE ENTERPRISE CO LTD
Meeting Date: 06/27/2018 Country: Taiwan Meeting Type: Annual Ticker: 8464
Primary ISIN: TW0008464009 Primary SEDOL: BSZLN15
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
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NIEN MADE ENTERPRISE CO LTD
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
Novatek PJSC
Meeting Date: 04/20/2018 Country: Russia Meeting Type: Annual Ticker: NVTK
Primary ISIN: RU000A0DKVS5 Primary SEDOL: B59HPK1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1.1 Approve Annual Report, Financial Statements, Mgmt For For and Allocation of Income
1.2 Approve Dividends of RUB 8 per Share Mgmt For For
Elect Nine Directors by Cumulative Voting Mgmt
2.1 Elect Andrey Akimov as Director Mgmt
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.2 Elect Michael Borrell as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.3 Elect Burckhard Bergmann as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
2.4 Elect Robert Castaigne as Director Mgmt None For
2.5 Elect Leonid Mikhelson as Director Mgmt None For
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Novatek PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.6 Elect Aleksandr Natalenko as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Addtionally, given the non-independent status of the Chairman, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
2.7 Elect Viktor Orlov as Director Mgmt None For
2.8 Elect Gennady Timchenko as Director Mgmt
2.9 Elect Andrey Sharonov as Director Mgmt None For
Elect Four Members of Audit Commission Mgmt
3.1 Elect Olga Belyaeva as Member of Audit Mgmt For For Commission
3.2 Elect Anna Merzlyakova as Member of Audit Mgmt For For Commission
3.3 Elect Igor Ryaskov as Member of Audit Mgmt For For Commission
3.4 Elect Nikolay Shulikin as Member of Audit Mgmt For For Commission
4 Ratify Auditor Mgmt For For
5 Approve Remuneration of Directors Mgmt
6 Approve Remuneration of Members of Audit Mgmt For For Commission
Novolipetsk Steel
Meeting Date: 06/08/2018 Country: Russia Meeting Type: Annual Ticker: NLMK
Primary ISIN: RU0009046452 Primary SEDOL: B59FPC7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividends of Mgmt For For RUB 14.04 per Share
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Novolipetsk Steel
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Interim Dividends of RUB 5.73 per Mgmt For For Share for First Three Months of Fiscal 2018
Elect Nine Directors by Cumulative Voting Mgmt
5.1 Elect Oleg Bagrin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.2 Elect Thomas Veraszto as Director Mgmt None For
5.3 Elect Helmut Wieser as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.4 Elect Nikolay Gagarin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.5 Elect Vladimir Lisin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.6 Elect Maryan Oudeman as Director Mgmt None For
5.7 Elect Karen Sarkisov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.8 Elect Stanislav Shekshnya as Director Mgmt None For
5.9 Elect Benedict Sciortino as Director Mgmt None For
6 Elect Grigory Fedorishin as President Mgmt For For
Elect Five Members of Audit Commission Mgmt
7.1 Elect Elena Zvyagina as Member of Audit Mgmt For For Commission
7.2 Elect Yulia Kunikhina as Member of Audit Mgmt For For Commission
7.3 Elect Mikhail Makeev as Member of Audit Mgmt For For Commission
7.4 Elect Elena Skladchikova as Member of Audit Mgmt For For Commission
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Novolipetsk Steel
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.5 Elect Sergey Ushkov as Member of Audit Mgmt For For Commission
8 Approve Remuneration of Directors Mgmt For For
9.1 Ratify PriceWaterhouseCoopers as RAS Auditor Mgmt For For
9.2 Ratify PriceWaterhouseCoopers as IFRS Auditor Mgmt For For
OTP Bank PLC
Meeting Date: 04/13/2018 Country: Hungary Meeting Type: Annual Ticker: OTP
Primary ISIN: HU0000061726 Primary SEDOL: 7320154
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Mgmt For For Reports, and Allocation of Income Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Company's Corporate Governance Mgmt For For Statement
3 Approve Discharge of Management Board Mgmt For For
4 Approve Auditors and Authorize Board to Fix Mgmt For Against Their Remuneration Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor. Also, companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 Amend Bylaws Mgmt For For
6 Elect Supervisory Board Member Mgmt For For
7 Elect Audit Committee Members Mgmt For For
8 Approve Remuneration Policy Mgmt For For
9 Approve Remuneration of Management Board, Mgmt For For Supervisory Board, and Audit Committee Members
10 Authorize Share Repurchase Program Mgmt For Against
Voter Rationale: Shares should not be repurchased at a premium/discount to the market price of more than 10%. Furthermore, any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company.
Page 249 of 367
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Pan American Silver Corp.
Meeting Date: 05/09/2018 Country: Canada Meeting Type: Annual/Special Ticker: PAAS
Primary ISIN: CA6979001089 Primary SEDOL: 2703396
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Elect Director Ross J. Beaty Mgmt For For
1.2 Elect Director Michael Steinmann Mgmt For For
1.3 Elect Director Michael L. Carroll Mgmt For For
1.4 Elect Director Neil de Gelder Mgmt For For
1.5 Elect Director David C. Press Mgmt For For
1.6 Elect Director Walter T. Segsworth Mgmt For For
1.7 Elect Director Gillian D. Winckler Mgmt For For
2 Approve Deloitte LLP as Auditors and Authorize Mgmt For For Board to Fix Their Remuneration Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.
3 Advisory Vote on Executive Compensation Mgmt For Against Approach Voter Rationale: Severance payments should not exceed two year’s pay. Larger severance packages should be subject to a separate shareholder approval. Also, the remuneration committee should not allow vesting of incentive awards for below median performance. In addition, a larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.
Parade Technologies Ltd.
Meeting Date: 06/21/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 4966
Primary ISIN: KYG6892A1085 Primary SEDOL: B6RV676
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Report Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Consolidated Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
Page 250 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Parade Technologies Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Approve Profit Distribution Mgmt For For
4 Approve Issuance of Restricted Stocks Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
5 Amend Articles of Association Mgmt For For
Parag Milk Foods Limited
Meeting Date: 04/09/2018 Country: India Meeting Type: Special Ticker: 539889
Primary ISIN: INE883N01014 Primary SEDOL: BYQPY60
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Approve Reclassification of the Status of Mgmt For For Promoters Shareholding into Public Shareholding
2 Approve Increase in Limit on Foreign Mgmt For For Shareholdings
Parex Resources Inc.
Meeting Date: 05/09/2018 Country: Canada Meeting Type: Annual/Special Ticker: PXT
Primary ISIN: CA69946Q1046 Primary SEDOL: B575D14
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Fix Number of Directors at Ten Mgmt For For
2.1 Elect Director Curtis Bartlett Mgmt For For
2.2 Elect Director Lisa Colnett Mgmt For For
2.3 Elect Director Robert Engbloom Mgmt For For
Page 251 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Parex Resources Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.4 Elect Director Wayne Foo Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
2.5 Elect Director Bob (G.R.) MacDougall Mgmt For For
2.6 Elect Director Glenn McNamara Mgmt For For
2.7 Elect Director Ron Miller Mgmt For For
2.8 Elect Director Carmen Sylvain Mgmt For For
2.9 Elect Director David Taylor Mgmt For For
2.10 Elect Director Paul Wright Mgmt For For
Voter Rationale: In the context of increasingly complex international accounting standards, the audit committee benefits from members who have a good and recent understanding of the accounting rules and of the audit process.
3 Approve Advance Notice Requirement Mgmt For For
4 Approve Shareholder Rights Plan Mgmt For For
5 Advisory Vote on Executive Compensation Mgmt For Against Approach Voter Rationale: The remuneration committee should not allow vesting of incentive awards for below median performance. Also, a larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. In addition, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
6 Approve PricewaterhouseCoopers LLP as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
Petra Diamonds Ltd.
Meeting Date: 06/13/2018 Country: Bermuda Meeting Type: Special Ticker: PDL
Primary ISIN: BMG702781094 Primary SEDOL: 0683564
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Increase in Authorised Share Capital Mgmt For For
2 Authorise Issue of Equity in Connection with the Mgmt For For Rights Issue
3 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights in Connection with the Rights Issue
Page 252 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Petrobras Distribuidora S.A.
Meeting Date: 04/25/2018 Country: Brazil Meeting Type: Annual Ticker: BRDT3
Primary ISIN: BRBRDTACNOR1 Primary SEDOL: 2683777
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017
2 Approve Allocation of Income Mgmt For For
3 Do You Wish to Adopt Cumulative Voting for the Mgmt None For Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
4.1 Elect Augusto Marques da Cruz Filho as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
4.2 Elect Clemir Carlos Magro as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.3 Elect Durval Jose Soledade Santos as Director Mgmt For Do Not Vote
Voter Rationale: Abstain vote for non-independent nominee Durval Jose Soledade Santos (Item 4.3), due to the limit of nine board seats. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.4 Elect Roberto Oliveira de Lima as Director Mgmt For For
4.5 Elect Cesar Suaki dos Santos as Director Mgmt For For
4.6 Elect Fernando Antonio Ribeiro Soares as Mgmt For For Director
4.7 Elect Alexandre Magalhães da Silveira as SH None For Director Appointed by Minority Shareholder
4.8 Elect Flavio Coelho Dantas as Director SH None For Appointed by Minority Shareholder
4.9 Elect Roberto Antonio Mendes as Director SH None For Appointed by Minority Shareholder
4.10 Elect Shakhaf Wine as Director Appointed by SH None For Minority Shareholder
5 In Case Cumulative Voting Is Adopted, Do You Mgmt None For Wish to Equally Distribute Your Votes for Each Supported Nominee?
Page 253 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Petrobras Distribuidora S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 5, Votes Will Be Automatically Distributed in Equal % Amongst Below Nominees. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
6.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Augusto Marques da Cruz Filho as Director Voter Rationale: ABSTAIN votes are warranted for the management's board nominees, in the event of cumulative voting, to allow minority shareholders to concentrate their votes on minority-appointed directors, as further discussed under Items 3, 5, 6.7-6.10 of this report.
6.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Clemir Carlos Magro as Director Voter Rationale: ABSTAIN votes are warranted for the management's board nominees, in the event of cumulative voting, to allow minority shareholders to concentrate their votes on minority-appointed directors, as further discussed under Items 3, 5, 6.7-6.10 of this report.
6.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Durval Jose Soledade Santos as Director Voter Rationale: ABSTAIN votes are warranted for the management's board nominees, in the event of cumulative voting, to allow minority shareholders to concentrate their votes on minority-appointed directors, as further discussed under Items 3, 5, 6.7-6.10 of this report.
6.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Roberto Oliveira de Lima as Director Voter Rationale: ABSTAIN votes are warranted for the management's board nominees, in the event of cumulative voting, to allow minority shareholders to concentrate their votes on minority-appointed directors, as further discussed under Items 3, 5, 6.7-6.10 of this report.
6.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Cesar Suaki dos Santos as Director Voter Rationale: ABSTAIN votes are warranted for the management's board nominees, in the event of cumulative voting, to allow minority shareholders to concentrate their votes on minority-appointed directors, as further discussed under Items 3, 5, 6.7-6.10 of this report.
6.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Fernando Antonio Ribeiro Soares as Director Voter Rationale: ABSTAIN votes are warranted for the management's board nominees, in the event of cumulative voting, to allow minority shareholders to concentrate their votes on minority-appointed directors, as further discussed under Items 3, 5, 6.7-6.10 of this report.
6.7 Percentage of Votes to Be Assigned - Elect Mgmt None For Alexandre Magalhães da Silveira as Director Appointed by Minority Shareholder
6.8 Percentage of Votes to Be Assigned - Elect Mgmt None For Flavio Coelho Dantas as Director Appointed by Minority Shareholder
6.9 Percentage of Votes to Be Assigned - Elect Mgmt None For Roberto Antonio Mendes as Director Appointed by Minority Shareholder
6.10 Percentage of Votes to Be Assigned - Elect Mgmt None For Shakhaf Wine as Director Appointed by Minority Shareholder
Page 254 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Petrobras Distribuidora S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Elect Joao Verner Juenemann as Fiscal Council SH None For Member and Maria Carmen Westerlund Montera as Alternate Appointed by Minority Shareholder
8 Approve Remuneration of Company's Mgmt For For Management and Fiscal Council Members
Petrobras Distribuidora S.A.
Meeting Date: 04/25/2018 Country: Brazil Meeting Type: Special Ticker: BRDT3
Primary ISIN: BRBRDTACNOR1 Primary SEDOL: 2683777
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Authorize Capitalization of Reserves Mgmt For For
2 Amend Articles and Consolidate Bylaws Mgmt For For
Petroleo Brasileiro SA-Petrobras
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Annual/Special Ticker: PETR4
Primary ISIN: BRPETRACNPR6 Primary SEDOL: 2684532
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Extraordinary General Meeting Mgmt
1 Amend Articles Mgmt For For
2 Consolidate Bylaws Mgmt For For
Annual General Meeting Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017
2 Fix Number of Directors Mgmt For For
Page 255 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Petroleo Brasileiro SA-Petrobras
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3a.1 Elect Directors Mgmt For Abstain
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
3a.2 In Case There is Any Change to the Board Slate Mgmt None Against Composition, May Your Votes Still be Counted for the Proposed Slate? Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
3a.3 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes to All Nominees in the Slate? Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
3b.1 Elect Marcelo Mesquita de Siqueira Filho as SH None For Director Appointed by Minority Shareholder
3b.2 Elect Marcelo Gasparino da Silva as Director SH None Abstain Appointed by Minority Shareholder Voter Rationale: Minority shareholders have appointed competing nominees for the single board seat reserved for ordinary minority representation.While both candidates appear to be well-qualified to serve as the board minority shareholder representative, there are no known concerns regarding the performance of incumbent minority representative Marcelo Mesquita de Siqueira Carvalho, who also appears to have less board commitments than the competing nominee.- As such, a vote FOR Item 3b.1 is warranted. As ordinary minority shareholders can elect only one board representative, an ABSTAIN vote recommendation is warranted for Item 3b.2. This recommendation, however, should not be interpreted as a negative assessment of nominee Marcelo Gasparino da Silva's experience or qualifications.
4 Elect Luiz Nelson Guedes de Carvalho as Board Mgmt For For Chairman
5a Elect Fiscal Council Members Mgmt For Abstain
Voter Rationale: An ABSTAIN recommendation is warranted for the management's fiscal council nominees, to allow minority shareholders to concentrate their votes on the election of a minority fiscal council representative, as further discussed under Item 5b of this meeting agenda.
5b Elect Reginaldo Ferreira Alexandre as Fiscal SH None For Council Member and Susana Hanna Stiphan Jabra as Alternate Appointed by Minority Shareholder
6 Approve Remuneration of Company's Mgmt For For Management and Fiscal Council
Petroleo Brasileiro SA-Petrobras
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Annual Ticker: PETR4
Primary ISIN: BRPETRACNPR6 Primary SEDOL: 2684532
Page 256 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Petroleo Brasileiro SA-Petrobras
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred ADR Holders Mgmt
3.1 Elect Sonia Julia Sulzbeck Villalobos as Director SH None For Appointed by Preferred Shareholder
3.2 Elect Jose Pais Rangel as Director Appointed by SH None Abstain Preferred Shareholder Voter Rationale: As preferred minority shareholders can elect only one board representative, an ABSTAIN vote recommendation is warranted for Item 3.2. This recommendation, however, should not be interpreted as a negative assessment of nominee Jose Pais Rangel's experience or qualifications
4 Elect Daniel Alves Ferreira as Fiscal Council SH None For Member and Rodrigo de Mesquita Pereira as Alternate Appointed by Preferred Shareholder
PETRONAS Dagangan Berhad
Meeting Date: 04/25/2018 Country: Malaysia Meeting Type: Annual Ticker: PETDAG
Primary ISIN: MYL5681OO001 Primary SEDOL: 6695938
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Md Arif bin Mahmood as Director Mgmt For For
2 Elect Nuraini binti Ismail as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3 Elect Zainal Abidin bin Syed Mohamed Tahir as Mgmt For For Director
4 Elect Shafie bin Shamsuddin as Director Mgmt For For
5 Elect Alvin Michael Hew Thai Kheam as Director Mgmt For For
6 Approve Directors' Fees for the Financial Year Mgmt For For Ended December 31, 2018
7 Approve Remuneration of Directors from Mgmt For For January 1, 2018 Until the Next Annual General Meeting
8 Approve KPMG PLT as Auditors and Authorize Mgmt For For Board to Fix Their Remuneration
Page 257 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Phison Electronics Corp.
Meeting Date: 06/08/2018 Country: Taiwan Meeting Type: Annual Ticker: 8299
Primary ISIN: TW0008299009 Primary SEDOL: 6728469
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Plan on Profit Distribution Mgmt For For
3 Approve Issuance of Shares via a Private Mgmt For Against Placement Voter Rationale: Any issuance of shares at a significant discount to the market price should be approved by shareholders prior to such issuance and not as a part of routine share issuance authorities.
PICC Property and Casualty Co., Ltd.
Meeting Date: 06/22/2018 Country: China Meeting Type: Annual Ticker: 2328
Primary ISIN: CNE100000593 Primary SEDOL: 6706250
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Xie Yiqun as Director Mgmt For For
2 Approve 2017 Report of the Board of Directors Mgmt For For
3 Approve 2017 Report of the Supervisory Mgmt For For Committee
4 Approve 2017 Audited Financial Statements and Mgmt For For Auditor's Report
5 Approve 2018 Directors' Fees Mgmt For For
6 Approve 2018 Supervisors' Fees Mgmt For For
7 Approve Deloitte Touche Tohmatsu as Mgmt For For International Auditor and Deloitte Touche Tohmatsu Certified Public Accountants LLP as Domestic Auditor and Authorize Board to Fix Their Remuneration
8 Approve Profit Distribution Plan, Issuance of Mgmt For For Capitalization Shares, and Related Transactions
Page 258 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
PICC Property and Casualty Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
9 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for Domestic Shares and H Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Pilipinas Shell Petroleum Corporation
Meeting Date: 05/03/2018 Country: Philippines Meeting Type: Annual Ticker: SHLPH
Primary ISIN: PHY6980U1070 Primary SEDOL: BYVQN05
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Stockholders' Mgmt For For Meeting
2 Approve 2017 Audited Financial Statements Mgmt For For
3a Approve Amendment of By-Laws to Move Mgmt For For Annual Stockholders' Meeting
3b Approve Amendment of the Articles of Mgmt For For Incorporation to Change Principal Office
Elect 11 Directors by Cumulative Voting Mgmt
4.1 Elect Asada Harinsuit as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.2 Elect Cesar G. Romero as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.3 Elect Fernando Zobel de Ayala as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore. the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Then, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
Page 259 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Pilipinas Shell Petroleum Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.4 Elect Cesar A. Buenaventura as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
4.5 Elect Lydia B. Echauz as Director Mgmt For For
4.6 Elect Mona Lisa B. Dela Cruz as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.7 Elect Anabil Dutta as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.8 Elect Dennis G. Gamab as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.9 Elect Luis C. La O as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.10 Elect Jose Jerome Rivera Pascual III as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4.11 Elect Anthony Lawrence D. Yam as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5 Elect SyCip Gorres Velayo & Co. as Independent Mgmt For For Auditor and Fix Its Remuneration
Ping An Insurance (Group) Co. of China, Ltd.
Meeting Date: 05/23/2018 Country: China Meeting Type: Annual Ticker: 2318
Primary ISIN: CNE1000003X6 Primary SEDOL: B01FLR7
Page 260 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ping An Insurance (Group) Co. of China, Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
2 Approve 2017 Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Annual Report and its Summary Mgmt For For
4 Approve 2017 Financial Statements and Mgmt For For Statutory Reports
5 Approve 2017 Profit Distribution Plan and Mgmt For For Distribution of Final Dividends
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as PRC Auditor and PricewaterhouseCoopers as International Auditor and Authorize Board to Fix Their Remuneration
APPROVE RESOLUTIONS REGARDING THE Mgmt ELECTION NO OF DIRECTORS FOR THE 11TH SESSION OF THE BOARD
7.01 Elect Ma Mingzhe as Director Mgmt For For
7.02 Elect Sun Jianyi as Director Mgmt For For
7.03 Elect Ren Huichuan as Director Mgmt For For
7.04 Elect Yao Jason Bo as Director Mgmt For For
7.05 Elect Lee Yuansiong as Director Mgmt For For
7.06 Elect Cai Fangfang as Director Mgmt For For
7.07 Elect Soopakij Chearavanont as Director Mgmt For Against
7.08 Elect Yang Xiaoping as Director Mgmt For Against
7.09 Elect Wang Yongjian as Director Mgmt For For
7.10 Elect Liu Chong as Director Mgmt For For
7.11 Elect Yip Dicky Peter as Director Mgmt For For
7.12 Elect Wong Oscar Sai Hung as Director Mgmt For For
7.13 Elect Sun Dongdong as Director Mgmt For For
7.14 Elect Ge Ming as Director Mgmt For For
7.15 Elect Ouyang Hui as Director Mgmt For For
Page 261 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ping An Insurance (Group) Co. of China, Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
APPROVE RESOLUTIONS REGARDING THE Mgmt ELECTION OF NON-EMPLOYEE REPRESENTATIVE SUPERVISORS FOR THE 9TH SESSION OF THE SUPERVISORY COMMITTEE
8.01 Elect Gu Liji as Supervisor Mgmt For For
8.02 Elect Huang Baokui as Supervisor Mgmt For For
8.03 Elect Zhang Wangjin as Supervisor Mgmt For For
9 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for H Shares
10 Approve 30th Anniversary Special Dividend SH For For
11 Approve Shanghai Jahwa Equity Incentive SH For Against Scheme
Play Communications S.A.
Meeting Date: 06/07/2018 Country: Luxembourg Meeting Type: Annual/Special Ticker: PLY
Primary ISIN: LU1642887738 Primary SEDOL: BF0K963
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Receive Auditor's Report (Non-Voting) Mgmt
2 Approve Financial Statements Mgmt For For
3 Approve Consolidated Financial Statements Mgmt For For
4 Approve Allocation of Income Mgmt For For
5 Approve Discharge of Directors Mgmt For For
6 Renew Appointment of Ernst & Young as Mgmt For For Auditor
7 Approve Value Development Program 4, a Mgmt For Against Performance Remuneration Incentive Plan
8 Approve Performance Incentive Program V2, a Mgmt For Against Performance Remuneration Incentive Plan
Special Meeting Agenda Mgmt
9 Amend Articles 5.2 and 11.11 to Reflect Mgmt For For Changes in Capital
Page 262 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Polski Koncern Naftowy Orlen SA
Meeting Date: 06/26/2018 Country: Poland Meeting Type: Annual Ticker: PKN
Primary ISIN: PLPKN0000018 Primary SEDOL: 5810066
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Management Proposals Mgmt
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Agenda of Meeting Mgmt For For
5 Elect Members of Vote Counting Commission Mgmt For For
6 Receive Management Board Report on Mgmt Company's and Group's Operations
7 Receive Financial Statements and Management Mgmt Board Proposal on Allocation of Income
8 Receive Consolidated Financial Statements Mgmt
9 Receive Supervisory Board Report Mgmt
10 Receive Management Board Report on Expenses Mgmt Related to Representation, Legal Services, Marketing Services, Public Relations Services, Social Communication Services, and Management Advisory Services
11 Approve Management Board Report on Mgmt For For Company's and Group's Operations
12 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
13 Approve Consolidated Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
14 Approve Allocation of Income and Dividends of Mgmt For For PLN 3 per Share
15.1 Approve Discharge of Wojciech Jasinski Mgmt For For (Management Board Member)
15.2 Approve Discharge of Miroslaw Kochalski Mgmt For For (Management Board Member)
15.3 Approve Discharge of Slawomir Jedrzejczyk Mgmt For For (Management Board Member)
15.4 Approve Discharge of Krystian Pater Mgmt For For (Management Board Member)
Page 263 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Polski Koncern Naftowy Orlen SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
15.5 Approve Discharge of Zbigniew Leszczynski Mgmt For For (Management Board Member)
15.6 Approve Discharge of Wieslaw Protasewicz Mgmt For For (Management Board Member)
15.7 Approve Discharge of Maria Sosnowska Mgmt For For (Management Board Member)
15.8 Approve Discharge of Piotr Chelminski Mgmt For For (Management Board Member)
16.1 Approve Discharge of Angelina Sarota Mgmt For For (Supervisory Board Chairman)
16.2 Approve Discharge of Radoslaw Kwasnicki Mgmt For For (Supervisory Board Member)
16.3 Approve Discharge of Mateusz Bochacik Mgmt For For (Supervisory Board Member)
16.4 Approve Discharge of Adrian Dworzynski Mgmt For For (Supervisory Board Member)
16.5 Approve Discharge of Agnieszka Krzetowska Mgmt For For (Supervisory Board Member)
16.6 Approve Discharge of Izabela Felczak-Poturnicka Mgmt For For ((Supervisory Board Member)
16.7 Approve Discharge of Wojciech Krynski Mgmt For For (Supervisory Board Member)
16.8 Approve Discharge of Artur Gabor (Supervisory Mgmt For For Board Member)
16.9 Approve Discharge of Wieslaw Protasewicz Mgmt For For (Supervisory Board Member)
17.1 Amend Statute Re: Supervisory Board Mgmt For For
17.2 Amend Statute Re: Management Board Mgmt For For
17.3 Approve Consolidated Text of Statute Mgmt For For
Shareholder Proposals Mgmt
18 Elect Supervisory Board Member SH None Against
Voter Rationale: Companies should provide sufficient information on the directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
19 Approve Terms of Remuneration of SH None Against Management Board Members Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Management Proposal Mgmt
20 Close Meeting Mgmt
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Postal Savings Bank of China Co., Ltd.
Meeting Date: 06/28/2018 Country: China Meeting Type: Annual Ticker: 1658
Primary ISIN: CNE1000029W3 Primary SEDOL: BD8GL18
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Work Report of the Board of Mgmt For For Directors
2 Approve 2017 Work Report of the Board of Mgmt For For Supervisors
3 Approve 2017 Final Financial Accounts Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve 2018 Budget Plan of Fixed Assets Mgmt For For Investment
6 Approve Appointment of Accounting Firms for Mgmt For For 2018
7 Elect Li Guohua as Director Mgmt For For
8 Approve 2016 Settlement Plan for Directors and Mgmt For For Supervisors
9 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
10 Approve Extension of the Validity Period of the Mgmt For For Plan for Initial Public Offering and Listing of A Shares
11 Approve Extension of the Validity Period of the Mgmt For For Authorization to Deal With Specific Matters in Respect to the Initial Public Offering and Listing of A Shares
Postal Savings Bank of China Co., Ltd.
Meeting Date: 06/28/2018 Country: China Meeting Type: Special Ticker: 1658
Primary ISIN: CNE1000029W3 Primary SEDOL: BD8GL18
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
Page 265 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Postal Savings Bank of China Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Extension of the Valid Period of the Mgmt For For Plan for Initial Public Offering and Listing of A Shares
2 Approve Extension of the Valid Period of the Mgmt For For Authorization to Deal With Specific Matters in Respect of Initial Public Offering and Listing of A Shares
Powszechna Kasa Oszczednosci Bank Polski SA
Meeting Date: 05/18/2018 Country: Poland Meeting Type: Annual Ticker: PKO
Primary ISIN: PLPKO0000016 Primary SEDOL: B03NGS5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Open Meeting Mgmt
2 Elect Meeting Chairman Mgmt For For
3 Acknowledge Proper Convening of Meeting Mgmt
4 Approve Agenda of Meeting Mgmt For For
5 Receive Financial Statements and Management Mgmt Board Proposal on Allocation of Income
6 Receive Management Board Report on Mgmt Company's and Group's Operations, Consolidated Financial Statements, and Management Board Report on Non-Financial Information
7 Receive Supervisory Board Report Mgmt
8.1 Approve Financial Statements Mgmt For For
8.2 Approve Management Board Report on Mgmt For For Company's and Group's Operations
8.3 Approve Consolidated Financial Statements Mgmt For For
8.4 Approve Management Board Report on Mgmt For For Company's and Group's Non-Financial Information
8.5 Approve Supervisory Board Report Mgmt For For
8.6 Approve Allocation of Income Mgmt For For
8.7 Approve Dividends of PLN 0.55 per Share Mgmt For For
Page 266 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Powszechna Kasa Oszczednosci Bank Polski SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.8a Approve Discharge of Zbigniew Jagiello (CEO) Mgmt For For
8.8b Approve Discharge of Rafal Antczak (Deputy Mgmt For For CEO)
8.8c Approve Discharge of Maks Kraczkowski Mgmt For For (Deputy CEO)
8.8d Approve Discharge of Mieczyslaw Krol (Deputy Mgmt For For CEO)
8.8e Approve Discharge of Adam Marciniak (Deputy Mgmt For For CEO)
8.8f Approve Discharge of Piotr Mazur (Deputy CEO) Mgmt For For
8.8g Approve Discharge of Jakub Papierski (Deputy Mgmt For For CEO)
8.8h Approve Discharge of Jan Rosciszewski (Deputy Mgmt For For CEO)
8.8i Approve Discharge of Bartosz Drabikowski Mgmt For For (Deputy CEO)
8.8j Approve Discharge of Janusz Derda (Deputy Mgmt For For CEO)
8.9a Approve Discharge of Piotr Sadownik Mgmt For For (Supervisory Board Chairman)
8.9b Approve Discharge of Grazyna Ciurzynska Mgmt For For (Supervisory Board Deputy Chairman)
8.9c Approve Discharge of Zbigniew Hajlasz Mgmt For For (Supervisory Board Secretary)
8.9d Approve Discharge of Mariusz Andrzejewski Mgmt For For (Supervisory Board Member)
8.9e Approve Discharge of Miroslaw Barszcz Mgmt For For (Supervisory Board Member)
8.9f Approve Discharge of Adam Budnikowski Mgmt For For (Supervisory Board Member)
8.9g Approve Discharge of Wojciech Jasinski Mgmt For For (Supervisory Board Member)
8.9h Approve Discharge of Andrzej Kisielewicz Mgmt For For (Supervisory Board Member)
8.9i Approve Discharge of Elzbieta Mgmt For For Maczynska-Ziemacka (Supervisory Board Member)
8.9j Approve Discharge of Janusz Ostaszewski Mgmt For For (Supervisory Board Member)
8.9k Approve Discharge of Jerzy Paluchniak Mgmt For For (Supervisory Board Member)
9 Amend Statute Mgmt For For
Page 267 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Powszechna Kasa Oszczednosci Bank Polski SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Receive Supervisory Board Report on Mgmt Remuneration Policy and Compliance with Corporate Governance Principles
11.1 Recall Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on the directors to be recalled at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11.2 Elect Supervisory Board Member Mgmt For Against
Voter Rationale: Companies should provide sufficient information on the directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
12 Close Meeting Mgmt
PRADA S.p.A.
Meeting Date: 04/27/2018 Country: Italy Meeting Type: Annual Ticker: 1913
Primary ISIN: IT0003874101 Primary SEDOL: B4PFFW4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Business Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For For
Appoint Directors Mgmt
3 Fix Number of Directors and Duration of Their Mgmt For For Term
4 Elect Carlo Mazzi as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
5 Elect Miuccia Prada Bianchi as Director Mgmt For For
6 Elect Patrizio Bertelli as Director Mgmt For For
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
7 Elect Alessandra Cozzani as Director Mgmt For For
8 Elect Stefano Simontacchi as Director Mgmt For For
9 Elect Maurizio Cereda as Director Mgmt For For
Page 268 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
PRADA S.p.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Elect Gian Franco Oliviero Mattei as Director Mgmt For For
Voter Rationale: In the context of increasingly complex international accounting standards, the audit committee benefits from members who have a good and recent understanding of the accounting rules and of the audit process.
11 Elect Giancarlo Forestieri as Director Mgmt For For
12 Elect Sing Cheong Liu as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
13 Elect Carlo Mazzi as Board Chair Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
14 Approve Remuneration of Directors Mgmt For For
Appoint Internal Statutory Auditors Mgmt
15 Appoint Antonino Parisi as Internal Statutory Mgmt For For Auditors
16 Appoint Roberto Spada as Internal Statutory Mgmt For For Auditors
17 Appoint David Terracina as Internal Statutory Mgmt For For Auditors
18 Appoint Stefania Bettoni as Alternate Internal Mgmt For For Statutory Auditor
19 Appoint Cristiano Proserpio as Alternate Internal Mgmt For For Statutory Auditor
20 Approve Internal Auditors' Remuneration Mgmt For For
In Case None of Resolution 15 to 17 Receives Mgmt the Highest Number of Votes, Either of the Following Resolutions Will Be Put to Shareholder Approval Re: Appoint Chairman of Internal Statutory Auditors
21.a Appoint Antonio Parisi as Chairman of Internal Mgmt For For Statutory Auditors
21.b Appoint Roberto Spada as Chairman of Internal Mgmt For Do Not Vote Statutory Auditors Voter Rationale: Parisi warrants a vote for the election to the chairmanship of the internal auditors' board because he is the current chairman of the internal statutory auditors' board, and no concern have been noted. A vote against the other candidate is warranted.However, this is not a standard proposal and the company has not proposed any candidate as chairman.
21.c Appoint David Terracina as Chairman of Internal Mgmt For Do Not Vote Statutory Auditors Voter Rationale: Parisi warrants a vote for the election to the chairmanship of the internal auditors' board because he is the current chairman of the internal statutory auditors' board, and no concern have been noted. A vote against the other candidate is warranted.However, this is not a standard proposal and the company has not proposed any candidate as chairman.
22.a Appoint Antonio Parisi as Chairman of Internal Mgmt For For Statutory Auditors
Page 269 of 367
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PRADA S.p.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
22.b Appoint Roberto Spada as Chairman of Internal Mgmt For Against Statutory Auditors Voter Rationale: Parisi warrants a vote for the election to the chairmanship of the internal auditors' board because he is the current chairman of the internal statutory auditors' board, and no concern have been noted.A vote AGAINST the other candidate is warranted.However, this is not a standard proposal and the company has not proposed any candidate as chairman.
23.a Appoint Antonio Parisi as Chairman of Internal Mgmt For For Statutory Auditors
23.b Appoint David Terracina as Chairman of Internal Mgmt For Against Statutory Auditors Voter Rationale: Parisi warrants a vote for the election to the chairmanship of the internal auditors' board because he is the current chairman of the internal statutory auditors' board, and no concern have been noted. A vote against the other candidate is warranted.However, this is not a standard proposal and the company has not proposed any candidate as chairman.
24.a Appoint Roberto Spada as Chairman of Internal Mgmt For For Statutory Auditors
24.b Appoint David Terracina as Chairman of Internal Mgmt For Against Statutory Auditors Voter Rationale: Spada warrants a vote for the election to the chairmanship of the internal auditors' board because he has experience as internal auditors at other Italian listed companies. A vote against the other candidate is warranted.However, this is not a standard proposal and the company has not proposed any candidate as chairman.
President Chain Store Corp.
Meeting Date: 06/12/2018 Country: Taiwan Meeting Type: Annual Ticker: 2912
Primary ISIN: TW0002912003 Primary SEDOL: 6704986
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS, Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
4.1 Elect LO CHIH HSIEN, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time
Page 270 of 367
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President Chain Store Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.2 Elect KAO HSIU LING, Representative of Kao Mgmt For For Chyuan Investment Co., Ltd., with Shareholder No. 2303, as Non-Independent Director
4.3 Elect CHEN JUI TANG, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director
4.4 Elect HUANG JUI TIEN, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director
4.5 Elect WU LIANG FENG, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director
4.6 Elect SU TSUNG MING, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director
4.7 Elect WU KUN LIN, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director
4.8 Elect HWANG JAU KAI, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director
4.9 Elect WU TSUNG PIN, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director
4.10 Elect WU WEN CHI, Representative of Uni Mgmt For For President Enterprises Corp., with Shareholder No. 1, as Non-Independent Director
4.11 Elect WANG WEN YEU, with ID No. Mgmt For For A103389XXX, as Independent Director
4.12 Elect SHU PEI GI, with ID No. A121808XXX, as Mgmt For For Independent Director
4.13 Elect HUNG YUNG CHEN, with ID No. Mgmt For For S100456XXX, as Independent Director
5 Approve Release of Restrictions of Competitive Mgmt For For Activities of Directors
PT Adaro Energy Tbk
Meeting Date: 04/23/2018 Country: Indonesia Meeting Type: Annual Ticker: ADRO
Primary ISIN: ID1000111305 Primary SEDOL: B3BQFC4
Page 271 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
PT Adaro Energy Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Annual Report and Financial Statements Mgmt For For
2 Approve Allocation of Income Mgmt For Against
Voter Rationale: Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Approve Changes in Board of Company Mgmt For Against
Voter Rationale: The company should ensure that the board of commissioners are at least 33% independent. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
4 Approve Auditors Mgmt For Against
Voter Rationale: Companies should disclose information on the auditor and fees paid to the auditor, and specify any non-audit work undertaken by the auditor.
5 Approve Remuneration of Directors and Mgmt For Against Commissioners Voter Rationale: Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
PT Astra International Tbk
Meeting Date: 04/25/2018 Country: Indonesia Meeting Type: Annual Ticker: ASII
Primary ISIN: ID1000122807 Primary SEDOL: B800MQ5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income Mgmt For Against
Voter Rationale: Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Approve Changes in the Board of Company and Mgmt For Against Approve Remuneration of Directors and Commissioners Voter Rationale: The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance. Likewise, companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
Page 272 of 367
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PT Astra International Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
PT Indofood Sukses Makmur Tbk
Meeting Date: 05/31/2018 Country: Indonesia Meeting Type: Annual Ticker: INDF
Primary ISIN: ID1000057003 Primary SEDOL: 6283979
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Director's Report Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Accept Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve Allocation of Income Mgmt For Against
Voter Rationale: Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
4 Approve Changes in Board of Company Mgmt For For
5 Approve Remuneration of Directors and Mgmt For Against Commissioners Voter Rationale: Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
6 Approve Auditors and Authorize Board to Fix Mgmt For Against Their Remuneration Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
PT Matahari Department Store Tbk
Meeting Date: 04/27/2018 Country: Indonesia Meeting Type: Annual Ticker: LPPF
Primary ISIN: ID1000113301 Primary SEDOL: 6665878
Page 273 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
PT Matahari Department Store Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Mgmt For For Reports, and Discharge of Directors and Commissioners
2 Approve Allocation of Income Mgmt For Against
Voter Rationale: Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Approve Auditors and Authorize Board to Fix Mgmt For For Their Remuneration
4 Approve Changes in the Board of Directors and Mgmt For Against Commissioners and Approve Remuneration of Directors and Commissioners
Voter Rationale: The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
PT Perusahaan Gas Negara (Persero) Tbk
Meeting Date: 04/26/2018 Country: Indonesia Meeting Type: Annual Ticker: PGAS
Primary ISIN: ID1000111602 Primary SEDOL: 6719764
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Annual Report, Commissioners' Report Mgmt For For and Report of the Partnership and Community Development Program (PCDP)
2 Approve Financial Statements, Financial Mgmt For For Statements of the Partnership and Community Development Program (PCDP) and Discharge of Directors and Commissioners
3 Approve Allocation of Income and Dividends Mgmt For Against
4 Approve Remuneration and Tantiem of Directors Mgmt For Against and Commissioners
5 Appoint Auditors of the Company and the Mgmt For For Partnership and Community Development Program (PCDP)
6 Approve Issuances of Shares in Connection with Mgmt For Against Acquisition of PT Pertamina Gas
Page 274 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
PT Perusahaan Gas Negara (Persero) Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Amend Articles of Association Mgmt For Against
8 Approve Changes in Board of Company Mgmt For Against
PT Sumber Alfaria Trijaya Tbk
Meeting Date: 05/24/2018 Country: Indonesia Meeting Type: Annual Ticker: AMRT
Primary ISIN: ID1000128705 Primary SEDOL: BCDBLJ9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Allocation of Income Mgmt For Against
Voter Rationale: Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Approve Report on the Use of Proceeds from Mgmt For For the Continuous Bond Public Offering II Sumber Alfaria Trijaya Phase I Year 2017
4 Approve Report on the Use of Proceeds from Mgmt For For the Continuous Bond Public Offering II Sumber Alfaria Trijaya Phase II Year 2018
5 Approve Changes in Board of Commissioners Mgmt For For
Voter Rationale: The board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
6 Approve Auditors and Authorize Board to Fix Mgmt For Against Their Remuneration Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Approve Remuneration of Commissioners Mgmt For Against
Voter Rationale: Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
PT Surya Citra Media Tbk
Meeting Date: 06/25/2018 Country: Indonesia Meeting Type: Annual Ticker: SCMA
Primary ISIN: ID1000125305 Primary SEDOL: B8HWJY1
Page 275 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
PT Surya Citra Media Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements, Statutory Mgmt For For Reports, and Discharge of Directors and Commissioners
2 Approve Allocation of Income Mgmt For Against
3 Approve Remuneration of Directors and Mgmt For Against Commissioners
4 Approve Auditors Mgmt For Against
5 Approve the Management and Employee Stock Mgmt For Against Option Program (MESOP) and Authorize Commissioners to Deal with All Related Matters
PT Telekomunikasi Indonesia Tbk
Meeting Date: 04/27/2018 Country: Indonesia Meeting Type: Annual Ticker: TLKM
Primary ISIN: ID1000129000 Primary SEDOL: BD4T6W7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Annual Report and Commissioners' Mgmt For For Report
2 Accept Financial Statements. Report of the Mgmt For For Partnership and Community Development Program (PCDP) and Discharge of Directors and Commissioners
3 Approve Allocation of Income Mgmt For Against
Voter Rationale: Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
4 Approve Remuneration and Tantiem of Directors Mgmt For Against and Commissioners Voter Rationale: Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
5 Appoint Auditors of the Company and the Mgmt For For Partnership and Community Development Program (PCDP)
6 Approve Transfer of Treasury Shares through Mgmt For Against Withdrawal by Way of Capital Reduction Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Page 276 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
PT Telekomunikasi Indonesia Tbk
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Amend Articles of Association Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Approve Enforcement of the State-Owned Mgmt For For Minister Regulation No. PER-03/MBU/08/2017 and PER-04/MBU/09/2017
9 Approve Changes in Board of Company Mgmt For Against
Voter Rationale: The company should ensure that the names and biographical details of directors and commissioners are disclosed to allow for informed judgements on their suitability and independence. Furthermore, the board should submit directors and commissioners for re-election individually, rather than as a single slate to enable shareholders to hold them individually accountable for their performance.
PT United Tractors Tbk
Meeting Date: 04/16/2018 Country: Indonesia Meeting Type: Annual Ticker: UNTR
Primary ISIN: ID1000058407 Primary SEDOL: 6230845
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Allocation of Income Mgmt For Against
Voter Rationale: Companies should ensure that shareholders are provided with sufficient information regarding income allocation and dividends to enable informed decisions.
3 Approve Remuneration of Directors and Mgmt For Against Commissioners Voter Rationale: Companies should provide clear disclosure of compensation to the commissioners and board of directors and ensure that remuneration is commensurate with their roles and market rates.
4 Approve Auditors Mgmt For Against
Voter Rationale: Companies should disclose information on the auditor and fees paid to the auditor, and specify any non-audit work undertaken by the auditor.
PTT Exploration & Production PCL
Meeting Date: 04/02/2018 Country: Thailand Meeting Type: Annual Ticker: PTTEP
Primary ISIN: TH0355A10Z04 Primary SEDOL: B1359K1
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
PTT Exploration & Production PCL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Acknowledge 2017 Performance Results and Mgmt 2018 Work Plan of the Company
2 Accept Financial Statements Mgmt For For
3 Approve Dividend Payment Mgmt For For
4 Approve Office of the Auditor General of Mgmt For For Thailand as Auditors and Authorize Board to Fix Their Remuneration Voter Rationale: Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit. Furthermore, companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 Amend Articles of Association Mgmt For For
6 Approve Remuneration of Directors and Mgmt For Against Sub-Committees Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
7.1 Elect Prajya Phinyawat as Director Mgmt For For
7.2 Elect Pitipan Tepartimargorn as Director Mgmt For For
7.3 Elect Panada Kanokwat as Director Mgmt For For
7.4 Elect Bundhit Eua-Arporn as Director Mgmt For For
7.5 Elect Tanarat Ubol as Director Mgmt For For
PTT Global Chemical Public Co., Ltd.
Meeting Date: 04/09/2018 Country: Thailand Meeting Type: Annual Ticker: PTTGC
Primary ISIN: TH1074010006 Primary SEDOL: B67QFW9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Acknowledge Operation Results, Business Plan Mgmt For For of the Company and Approve Financial Statements Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividend Mgmt For For Payment
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PTT Global Chemical Public Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.1 Elect Piyasvasti Amranand as Director Mgmt For For
3.2 Elect Pakorn Nilprapunt as Director Mgmt For For
3.3 Elect Somkit Lertpaithoon as Director Mgmt For For
3.4 Elect Nithi Chungcharoen as Director Mgmt For For
3.5 Elect Boobpha Amornkiatkajorn as Director Mgmt For For
4 Approve Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
5 Approve KPMG Phoomchai Audit Ltd. as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
6 Amend Articles of Association Mgmt For For
7 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
PTT PCL
Meeting Date: 04/12/2018 Country: Thailand Meeting Type: Annual Ticker: PTT
Primary ISIN: TH0646010007 Primary SEDOL: 6420389
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Acknowledge Performance Report and Approve Mgmt For For Financial Statements
2 Approve Allocation of Profit and Dividend Mgmt For For Payment
3 Approve Office of The Auditor General of Mgmt For For Thailand as Auditors
4 Approve Reduction in Registered Capital and Mgmt For For Amend Memorandum of Association to Reflect Decrease in Registered Capital
5 Approve Change in Par Value and Amend Mgmt For For Memorandum of Association
6 Approve External Fund Raising Plan 2018-2022 Mgmt For For
7 Amend Articles of Association Mgmt For For
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PTT PCL
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Approve Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
9 Acknowledge Progress of the Business Mgmt Restructuring Plan for the Initial Public Offering of Ordinary Shares and the Listing of PTT Oil and Retail Business Company Limited on the Stock Exchange of Thailand
10.1 Elect Nuntawan Sakuntanaga as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
10.2 Elect Thon Thamrongnawasawat as Director Mgmt For For
10.3 Elect Surapon Nitikraipot as Director Mgmt For For
10.4 Elect Danucha Pichayanan as Director Mgmt For For
10.5 Elect Tevin Vongvanich as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
11 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Radiant Opto-Electronics Corp.
Meeting Date: 06/14/2018 Country: Taiwan Meeting Type: Annual Ticker: 6176
Primary ISIN: TW0006176001 Primary SEDOL: 6520278
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
4 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
5 Amend Procedures for Endorsement and Mgmt For For Guarantees
6 Amend Procedures for Lending Funds to Other Mgmt For For Parties
Page 280 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Radiant Opto-Electronics Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Amend Rules and Procedures for Election of Mgmt For For Directors and Supervisors
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
8.1 Elect WANG,BEN-RAN, with Shareholder No. 1, Mgmt For For as Non-Independent Director
8.2 Elect WANG,BEN-FENG, Representative of Long Mgmt For For Sheng Investment Co., Ltd., with Shareholder No. 30434, as Non-Independent Director
8.3 Elect SU,HUI-ZHU, Representative of Rui Sheng Mgmt For For Investment Co., Ltd. with Shareholder No. 7842, as Non-Independent Director
8.4 Elect WANG,BEN-ZONG, with Shareholder No. Mgmt For For 13, as Non-Independent Director
8.5 Elect WANG,BEN-QIN, with Shareholder No. Mgmt For For 150, as Non-Independent Director
8.6 Elect BU,XIANG-KUN, with ID No. D120787XXX, Mgmt For For as Non-Independent Director
8.7 Elect HUANG,ZI-CHENG, with Shareholder No. Mgmt For For 5510, as Independent Director
8.8 Elect JIANG,YAO-ZONG, with ID No. Mgmt For Against E101934XXX, as Independent Director Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
8.9 Elect ZENG,LUN-BIN, with ID No. D120863XXX, Mgmt For For as Independent Director
9 Approve Release of Restrictions of Competitive Mgmt For For Activities of Newly Appointed Directors
Rain Industries Limited
Meeting Date: 05/11/2018 Country: India Meeting Type: Annual Ticker: 500339
Primary ISIN: INE855B01025 Primary SEDOL: 6349956
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Standalone Financial Statements and Mgmt For For Statutory Reports
Page 281 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Rain Industries Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Accept Consolidated Financial Statements and Mgmt For For Statutory Reports
3 Approve Final Dividend Mgmt For For
4 Approve Interim Dividend Mgmt For For
5 Reelect N. Radhakrishna Reddy as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
6 Reelect N. Sujith Kumar Reddy as Director Mgmt For For
7 Approve BSR & Associates LLP as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
8 Approve Appointment of Jagan Mohan Reddy Mgmt For For Nellore as Chief Executive Officer
9 Reelect Radhika Vijay Haribhakti as Director Mgmt For For
10 Elect Varun Batra as Director Mgmt For For
Randon SA Implementos e Participacoes
Meeting Date: 04/27/2018 Country: Brazil Meeting Type: Annual Ticker: RAPT4
Primary ISIN: BRRAPTACNPR4 Primary SEDOL: B010V49
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for Preferred Shareholders Mgmt
1 Do You Wish to Request Installation of a Fiscal Mgmt None For Council, Under the Terms of Article 161 of the Brazilian Corporate Law?
2 Elect William Cordeiro as Fiscal Council Member SH None For and Thiago Costa Jacinto as Alternate Appointed by Preferred Shareholder
Rosneft Oil Company PAO
Meeting Date: 06/21/2018 Country: Russia Meeting Type: Annual Ticker: ROSN
Primary ISIN: RU000A0J2Q06 Primary SEDOL: B59SS16
Page 282 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Rosneft Oil Company PAO
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income Mgmt For For
4 Approve Dividends Mgmt For For
5 Approve Remuneration of Directors Mgmt
6 Approve Remuneration of Members of Audit Mgmt For For Commission
7 Elect Directors Mgmt
Elect Five Members of Audit Committee Mgmt
8.1 Elect Olga Andrianova as Member of Audit Mgmt For For Commission
8.2 Elect Aleksandr Bogashov as Member of Audit Mgmt For For Commission
8.3 Elect Sergey Poma as Member of Audit Mgmt For For Commission
8.4 Elect Zakhar Sabantsev as Member of Audit Mgmt For For Commission
8.5 Elect Pavel Shumov as Member of Audit Mgmt For For Commission
9 Ratify Auditor Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
Rumo S.A.
Meeting Date: 04/20/2018 Country: Brazil Meeting Type: Annual Ticker: RAIL3
Primary ISIN: BRRAILACNOR9 Primary SEDOL: BYXZ2W5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
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Rumo S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Allocation of Income Mgmt For For
3 Fix Number of Fiscal Council Members Mgmt For For
4.1 Elect Luiz Carlos Nannini as Fiscal Council Mgmt For For Member and Henrique Ache Pillar as Alternate
4.2 Elect Thiago Costa Jacinto as Fiscal Council Mgmt For For Member and Jose Mauricio Disep Costa as Alternate
4.3 Elect Marcelo Curti as Fiscal Council Member Mgmt For For and Joao Marcelo Peixoto Torres as Alternate
4.4 Elect Francisco Silverio Morales Cespede as Mgmt For For Fiscal Council Member and Helio Ribeiro Duarte as Alternate
4.5 Elect Cristina Anne Bets as Fiscal Council Mgmt For For Member and Guido Barbosa de Oliveira as Alternate
5 Elect Luiz Carlos Nannini as Fiscal Council Mgmt For For Chairman
6 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
7 Approve Remuneration of Fiscal Council Mgmt For For Members
8 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
Rumo S.A.
Meeting Date: 04/20/2018 Country: Brazil Meeting Type: Special Ticker: RAIL3
Primary ISIN: BRRAILACNOR9 Primary SEDOL: BYXZ2W5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Ratify Remuneration of Company's Management Mgmt For Against for 2017 Voter Rationale: Significant salary increases should be linked to material changes in the business or in the role and responsibilities of executive directors.
Page 284 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Rumo S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Agreement to Absorb Brado Holding Mgmt For For S.A. (Brado), Rumo Malha Norte Holding Ltda. (Rumo Malha Norte Holding) and Tezza Consultoria de Negócios Ltda. (Tezza)
3 Ratify ANGESP - Agencia Nacional de Gestao em Mgmt For For Pericias Ltda. as the Independent Firm to Appraise Proposed Transactions
4 Approve Independent Firm's Appraisals Mgmt For For
5 Approve Absorption of Brado Holding S.A. Mgmt For For (Brado), Rumo Malha Norte Holding Ltda. (Rumo Malha Norte Holding) and Tezza Consultoria de Negócios Ltda. (Tezza)
6 Authorize Board to Ratify and Execute Approved Mgmt For For Resolutions
7 In the Event of a Second Call, the Voting Mgmt None For Instructions Contained in this Remote Voting Card May Also be Considered for the Second Call?
S.A.C.I. Falabella
Meeting Date: 04/24/2018 Country: Chile Meeting Type: Annual Ticker: FALABELLA
Primary ISIN: CLP3880F1085 Primary SEDOL: 2771672
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Annual Report, Balance Sheet, and Mgmt For For Consolidated Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Receive Auditors' Report Mgmt For For
3 Approve Allocation of Income and Dividends of Mgmt For For CLP 54 Per Share
4 Approve Dividend Policy Mgmt For For
5 Approve Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
6 Appoint Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
7 Designate Risk Assessment Companies Mgmt For For
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
S.A.C.I. Falabella
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Designate Newspaper to Publish Mgmt For For Announcements
9 Receive Report Regarding Related-Party Mgmt For For Transactions
10 Receive Directors Committee's Report Mgmt For For
11 Approve Remuneration of Directors' Committee Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
12 Approve Budget of Directors' Committee Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
Sands China Ltd.
Meeting Date: 05/25/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 1928
Primary ISIN: KYG7800X1079 Primary SEDOL: B5B23W2
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Robert Glen Goldstein as Director Mgmt For For
3b Elect Charles Daniel Forman as Director Mgmt For For
3c Elect Steven Zygmunt Strasser as Director Mgmt For For
3d Elect Wang Sing as Director Mgmt For For
3e Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Page 286 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Sanlam Ltd
Meeting Date: 06/06/2018 Country: South Africa Meeting Type: Annual Ticker: SLM
Primary ISIN: ZAE000070660 Primary SEDOL: B0L6750
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2017
2 Reappoint Ernst & Young Incorporated as Mgmt For For Auditors of the Company and Appoint C du Toit as the Individual and Designated Auditor Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
3.1 Elect Mathukana Mokoka as Director Mgmt For For
4.1 Re-elect Anton Botha as Director Mgmt For For
4.2 Re-elect Rejoice Simelane as Director Mgmt For For
4.3 Re-elect Johan van Zyl as Director Mgmt For For
Voter Rationale: The board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure an orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
5.1 Re-elect Temba Mvusi as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
6.1 Re-elect Anton Botha as Member of the Audit Mgmt For For Committee
6.2 Re-elect Paul Hanratty as Member of the Audit Mgmt For For Committee
6.3 Elect Mathukana Mokoka as Member of the Mgmt For For Audit Committee
6.4 Re-elect Karabo Nondumo as Member of the Mgmt For For Audit Committee
7.1 Approve Remuneration Policy Mgmt For For
7.2 Approve Remuneration Implementation Report Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
8 Approve Remuneration of Executive Directors Mgmt For For and Non-executive Directors for the Financial Year Ended 31 December 2017
9 Place Authorised but Unissued Shares under Mgmt For For Control of Directors
Page 287 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Sanlam Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Authorise Board to Issue Shares for Cash Mgmt For For
11 Authorise Ratification of Approved Resolutions Mgmt For For
A Approve Remuneration of Non-executive Mgmt For For Directors for the Period 1 July 2018 until 30 June 2019
B Amend Memorandum of Incorporation Mgmt For For
C Authorise Repurchase of Issued Share Capital Mgmt For For
Sberbank of Russia PJSC
Meeting Date: 06/08/2018 Country: Russia Meeting Type: Annual Ticker: SBER
Primary ISIN: RU0009029540 Primary SEDOL: 4767981
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividends of Mgmt For For RUB 12 per Share
4 Ratify PricewaterhouseCoopers as Auditor Mgmt For Against
Voter Rationale: Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
Elect 14 Directors by Cumulative Voting Mgmt
5.1 Elect Esko Tapani Aho as Director Mgmt None For
5.2 Elect Leonid Boguslavsky as Director Mgmt None For
5.3 Elect Valery Goreglyad as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.4 Elect German Gref as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Page 288 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Sberbank of Russia PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.5 Elect Bella Zlatkis as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.6 Elect Nadezhda Ivanova as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.7 Elect Sergey Ignatyev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.8 Elect Alexander Kuleshov as Director Mgmt None For
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.9 Elect Vladimir Mau as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.10 Elect Gennady Melikyan as Director Mgmt None For
5.11 Elect Maksim Oreshkin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.12 Elect Olga Skorobogatova as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Additionally. the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Likewise, te remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Also the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.13 Elect Nadia Wells as Director Mgmt None For
5.14 Elect Sergey Shvetsov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance
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Sberbank of Russia PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Elect Seven Members of Audit Commission Mgmt
6.1 Elect Alexey Bogatov as Member of Audit Mgmt For For Commission
6.2 Elect Natalya Borodina as Member of Audit Mgmt For For Commission
6.3 Elect Maria Voloshina as Member of Audit Mgmt For For Commission
6.4 Elect Tatyana Domanskaya as Member of Audit Mgmt For For Commission
6.5 Elect Yulia Isakhanova as Member of Audit Mgmt For For Commission
6.6 Elect Irina Litvinova as Member of Audit Mgmt For For Commission
6.7 Elect Aleksey Minenko as Member of Audit Mgmt For For Commission
7 Approve Related-Party Transaction Re: Liability Mgmt For For Insurance for Directors, Executives, and Company
8 Approve New Edition of Charter Mgmt For For
Sberbank of Russia PJSC
Meeting Date: 06/08/2018 Country: Russia Meeting Type: Annual Ticker: SBER
Primary ISIN: RU0009029540 Primary SEDOL: 4767981
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividends of Mgmt For For RUB 12 per Share
4 Ratify PricewaterhouseCoopers as Auditor Mgmt For Against
Voter Rationale: Auditors should undertake non-audit work in exceptional circumstances only. Any non-audit fees paid to the auditor should be clearly disclosed, justified and not exceed audit fees. Large non-audit fees could compromise objectivity of the audit.
Elect 14 Directors by Cumulative Voting Mgmt
5.1 Elect Esko Tapani Aho as Director Mgmt None For
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Sberbank of Russia PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.2 Elect Leonid Boguslavsky as Director Mgmt None For
5.3 Elect Valery Goreglyad as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.4 Elect German Gref as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.5 Elect Bella Zlatkis as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.6 Elect Nadezhda Ivanova as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.7 Elect Sergey Ignatyev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.8 Elect Alexander Kuleshov as Director Mgmt None For
5.9 Elect Vladimir Mau as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
5.10 Elect Gennady Melikyan as Director Mgmt None For
5.11 Elect Maksim Oreshkin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Sberbank of Russia PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.12 Elect Olga Skorobogatova as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. Additionally. the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Likewise, te remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Also the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.13 Elect Nadia Wells as Director Mgmt None For
5.14 Elect Sergey Shvetsov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Seven Members of Audit Commission Mgmt
6.1 Elect Alexey Bogatov as Member of Audit Mgmt For For Commission
6.2 Elect Natalya Borodina as Member of Audit Mgmt For For Commission
6.3 Elect Maria Voloshina as Member of Audit Mgmt For For Commission
6.4 Elect Tatyana Domanskaya as Member of Audit Mgmt For For Commission
6.5 Elect Yulia Isakhanova as Member of Audit Mgmt For For Commission
6.6 Elect Irina Litvinova as Member of Audit Mgmt For For Commission
6.7 Elect Aleksey Minenko as Member of Audit Mgmt For For Commission
7 Approve Related-Party Transaction Re: Liability Mgmt For For Insurance for Directors, Executives, and Company
8 Approve New Edition of Charter Mgmt For For
Semiconductor Manufacturing International Corporation
Meeting Date: 06/22/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 981
Primary ISIN: KYG8020E1199 Primary SEDOL: BDFBM13
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Semiconductor Manufacturing International Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2a Elect Chen Shanzhi as Director Mgmt For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
2b Elect Lu Jun as Director Mgmt For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2c Elect Zhao HaiJun as Director Mgmt For For
2d Elect Liang Mong Song as Director Mgmt For For
2e Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve PricewaterhouseCoopers and Mgmt For Against PricewaterhouseCoopers Zhong Tian LLP as Auditors for Hong Kong Financial Reporting and U.S. Financial Reporting Purposes, Respectively and Authorize Audit Committee of the Board to Fix Their Remuneration
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
4 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
5 Authorize Repurchase of Issued Share Capital Mgmt For For
6 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Semiconductor Manufacturing International Corporation
Meeting Date: 06/22/2018 Country: Cayman Islands Meeting Type: Special Ticker: 981
Primary ISIN: KYG8020E1199 Primary SEDOL: BDFBM13
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Semiconductor Manufacturing International Corporation
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Datang Pre-emptive Share Subscription Mgmt For For Agreement, Issuance of Datang Pre-emptive Shares, Datang PSCS Subscription Agreement, Issuance of Datang PSCS, Issuance of Datang Conversion Shares and Related Transactions
2 Approve China IC Fund Pre-emptive Share Mgmt For For Subscription Agreement, Issuance of China IC Fund Pre-emptive Shares, China IC Fund PSCS Subscription Agreement, Issuance of China IC Fund PSCS, Issuance of China IC Fund Conversion Shares and Related Transactions
Semirara Mining and Power Corp.
Meeting Date: 05/07/2018 Country: Philippines Meeting Type: Annual Ticker: SCC
Primary ISIN: PHY7628G1124 Primary SEDOL: BQ13Z04
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Minutes of Previous Annual Mgmt For For Stockholders' Meeting Held on May 2, 2017
2 Approve Management Report Mgmt For For
3 Ratify All Acts of the Board of Directors and the Mgmt For For Management from the Date of the Last Annual Stockholders' Meeting Up to the Date of this Meeting
4 Appoint SyCip Gorres Velayo & Co. as Mgmt For For Independent External Auditor Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Elect 11 Directors by Cumulative Voting Mgmt
5.1 Elect Isidro A. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
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Semirara Mining and Power Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.2 Elect Victor A. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.3 Elect Jorge A. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.4 Elect Cesar A. Buenaventura as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
5.5 Elect Herbert M. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.6 Elect Maria Cristina C. Gotianun as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.7 Elect Ma. Edwina C. Laperal as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.8 Elect Josefa Consuelo C. Reyes as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.9 Elect Luz Consuelo A. Consunji as Director Mgmt For Withhold
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.10 Elect Rogelio M. Murga as Director Mgmt For For
5.11 Elect Honorio O. Reyes-Lao as Director Mgmt For For
Shandong Weigao Group Medical Polymer Co., Ltd.
Meeting Date: 04/16/2018 Country: China Meeting Type: Special Ticker: 1066
Primary ISIN: CNE100000171 Primary SEDOL: 6742340
Page 295 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Shandong Weigao Group Medical Polymer Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Articles of Association Mgmt For For
Shandong Weigao Group Medical Polymer Co., Ltd.
Meeting Date: 04/16/2018 Country: China Meeting Type: Special Ticker: 1066
Primary ISIN: CNE100000171 Primary SEDOL: 6742340
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Amend Articles of Association Mgmt For For
Shandong Weigao Group Medical Polymer Co., Ltd.
Meeting Date: 04/16/2018 Country: China Meeting Type: Special Ticker: 1066
Primary ISIN: CNE100000171 Primary SEDOL: 6742340
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Adopt WW Medical Share Option Scheme Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
2 Approve Grant of Options to George A. Leondis Mgmt For Against and Related Transactions Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Shandong Weigao Group Medical Polymer Co., Ltd.
Meeting Date: 06/19/2018 Country: China Meeting Type: Annual Ticker: 1066
Primary ISIN: CNE100000171 Primary SEDOL: 6742340
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Audited Consolidated Financial Mgmt For For Statements
2 Approve 2017 Report of the Board of Directors Mgmt For For
3 Approve 2017 Report of the Supervisory Mgmt For For Committee
4 Approve Final Dividend Mgmt For For
5 Approve Deloitte Touche Tohmatsu as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
6 Authorize Board to Fix Remuneration of Mgmt For For Directors, Supervisors and Senior Management
7 Elect Lo Wai Hung as Director Mgmt For For
8 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9 Authorize Repurchase of Issued H Share Capital Mgmt For For
10 Amend Articles of Association Mgmt For For
Shandong Weigao Group Medical Polymer Co., Ltd.
Meeting Date: 06/19/2018 Country: China Meeting Type: Special Ticker: 1066
Primary ISIN: CNE100000171 Primary SEDOL: 6742340
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Authorize Repurchase of Issued H Share Capital Mgmt For For
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Shenzhou International Group Holdings Ltd.
Meeting Date: 05/25/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 2313
Primary ISIN: KYG8087W1015 Primary SEDOL: B0MP1B0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Huang Guanlin as Director Mgmt For For
4 Elect Ma Renhe as Director Mgmt For For
5 Elect Chen Xu as Director Mgmt For For
6 Authorize Board to Fix Remuneration of Mgmt For For Directors
7 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
8 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9 Authorize Repurchase of Issued Share Capital Mgmt For For
10 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Shimao Property Holdings Ltd.
Meeting Date: 06/19/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 813
Primary ISIN: KYG810431042 Primary SEDOL: B16YNS1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Shimao Property Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.1 Elect Hui Wing Mau as Director Mgmt For For
Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability. In addition, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3.2 Elect Lu Hong Bing as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.3 Elect Lam Ching Kam as Director Mgmt For For
3.4 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Shriram Transport Finance Company Limited
Meeting Date: 06/05/2018 Country: India Meeting Type: Special Ticker: 511218
Primary ISIN: INE721A01013 Primary SEDOL: 6802608
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Approve Issuance of Non-Convertible Mgmt For For Debentures on Private Placement Basis
2 Approve Increase in Borrowing Powers Mgmt For For
3 Approve Pledging of Assets for Debt Mgmt For For
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Sino Biopharmaceutical Ltd.
Meeting Date: 05/29/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 1177
Primary ISIN: KYG8167W1380 Primary SEDOL: B00XSF9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Tse Ping as Director Mgmt For For
4 Elect Li Mingqin as Director Mgmt For For
5 Elect Lu Zhengfei as Director Mgmt For For
6 Elect Li Dakui as Director Mgmt For For
7 Authorize Board to Fix Remuneration of Director Mgmt For For
8 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
9A Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9B Authorize Repurchase of Issued Share Capital Mgmt For For
9C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
9D Approve Bonus Issue of Shares Mgmt For For
SINOPEC Engineering Group Co Ltd
Meeting Date: 05/08/2018 Country: China Meeting Type: Annual Ticker: 2386
Primary ISIN: CNE100001NV2 Primary SEDOL: B92NYC9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ORDINARY RESOLUTIONS Mgmt
Page 300 of 367
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SINOPEC Engineering Group Co Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Report of the Board Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Report of the Supervisory Committee Mgmt For For
3 Approve Audited Financial Statements Mgmt For For
4 Approve Final Dividend Distribution Plan Mgmt For For
5 Approve Interim Profit Distribution Plan Mgmt For For
6 Approve Grant Thornton China (Special General Mgmt For For Partnership) as Domestic Auditor and Approve Grant Thornton Hong Kong Limited as International Auditor and Authorize Board to Fix Their Remuneration
7 Approve Business Operation Plan, Investment Mgmt For For Plan and Financial Budget
SPECIAL RESOLUTIONS Mgmt
1 Authorize Repurchase of Issued Share Capital Mgmt For For
2 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
SINOPEC Engineering Group Co Ltd
Meeting Date: 05/08/2018 Country: China Meeting Type: Special Ticker: 2386
Primary ISIN: CNE100001NV2 Primary SEDOL: B92NYC9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Authorize Repurchase of Issued Share Capital Mgmt For For
Sinopec Shanghai Petrochemical Co. Ltd.
Meeting Date: 06/13/2018 Country: China Meeting Type: Annual Ticker: 338
Primary ISIN: CNE1000004C8 Primary SEDOL: 6797458
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Sinopec Shanghai Petrochemical Co. Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Work Report of the Board of Mgmt For For Directors
2 Approve 2017 Work Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Audited Financial Statements Mgmt For For
4 Approve 2017 Profit Distribution Plan Mgmt For For
5 Approve 2018 Financial Budget Report Mgmt For For
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP (Special General Partnership) as Domestic Auditors and PricewaterhouseCoopers as International Auditors and Authorize Board to Fix Their Remuneration
7 Elect Jin Wenmin as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
Sinopharm Group Co., Ltd.
Meeting Date: 06/28/2018 Country: China Meeting Type: Annual Ticker: 1099
Primary ISIN: CNE100000FN7 Primary SEDOL: B3ZVDV0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 Audited Financial Statements of Mgmt For For the Company and Its Subsidiaries and the Auditors' Report Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve Profit Distribution Plan and Payment of Mgmt For For Final Dividend
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Sinopharm Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Authorize Board to Fix Remuneration of Mgmt For For Directors
6 Authorize Supervisory Committee to Fix Mgmt For For Remuneration of Supervisors
7 Approve Ernst & Young Hua Ming LLP as the Mgmt For For Domestic Auditor and Ernst & Young as the International Auditor and Authorize Audit Committee of the Board to Fix Their Remuneration
8 Approve Provision of Guarantees in Favor of Mgmt For Against Third Parties Voter Rationale: A vote AGAINST this resolution is warranted given that granting of a blanket authority to provide guarantees may unnecessarily increase the company's risks.
9 Approve Amendments to the Rules of Mgmt For For Procedures of the Board of Directors
10 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for Domestic Shares and/or H Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
11 Approve Amendments to Articles of Association Mgmt For For
12 Approve Issuance of Debt Financing Mgmt For For Instruments
Sinotrans Ltd.
Meeting Date: 05/31/2018 Country: China Meeting Type: Annual Ticker: 598
Primary ISIN: CNE1000004F1 Primary SEDOL: 6579010
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 Financial Statements and Mgmt For For Statutory Report Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
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Sinotrans Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve 2017 Profit Distribution Proposal and Mgmt For For Final Dividend
5 Authorize Board to Decide on Matters Relating Mgmt For For to the Declaration, Payment and Recommendation of 2018 Interim Dividends
6 Approve Shinewing Certified Public Accountants Mgmt For For LLP as PRC Auditors and Shinewing (HK) CPA Limited as International Auditors Authorize Board to Fix Their Remuneration
7 Authorize Board to Fix Remuneration of Mgmt For For Directors and Supervisors
8 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9 Authorize Repurchase of Issued Share Capital Mgmt For For
Sinotrans Ltd.
Meeting Date: 05/31/2018 Country: China Meeting Type: Special Ticker: 598
Primary ISIN: CNE1000004F1 Primary SEDOL: 6579010
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Authorize Repurchase of Issued H Share Capital Mgmt For For
2 Approve Proposed Merger by Way of Share Mgmt For For Exchange
Sinotrans Ltd.
Meeting Date: 05/31/2018 Country: China Meeting Type: Special Ticker: 598
Primary ISIN: CNE1000004F1 Primary SEDOL: 6579010
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Sinotrans Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Proposed Merger by Way of Share Mgmt For For Exchange
2 Amend Articles of Association Regarding Party Mgmt For Against Committe Voter Rationale: A vote against is warranted because the proposed articles amendments are not considered to adequately provide for accountability and transparency to shareholders.
RESOLUTIONS IN RELATION TO THE Mgmt APPROVAL OF THE FOLLOWING POLICIES WITH EFFECT FROM THE A SHARES LISTING
3a Approve Working Manual for Independent Mgmt For For Directors
3b Approve Policy for the Management of Mgmt For For Connected Transactions
3c Approve Policy for the Management of External Mgmt For For Guarantees
3d Approve Plan on Shareholder Return for the Mgmt For For Next Three Years (2018-2020)
3e Approve Measures to Remedy the Dilution Effect Mgmt For For to the Immediate Return of Shareholders That May Be Caused by the Merger Agreement
4a Elect Wang Hong as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
4b Elect Song Rong as Director Mgmt For For
4c Elect Meng Yan as Director Mgmt For For
4d Elect Li Qian as Director Mgmt For For
4e Elect Song Haiqing as Director Mgmt For For
5a Elect Wu Xueming as Director Mgmt For For
5b Elect Jerry Hsu as Director Mgmt For For
6 Approve Fan Zhaoping as Supervisor Mgmt For For
Sinotruk (Hong Kong) Limited
Meeting Date: 06/27/2018 Country: Hong Kong Meeting Type: Annual Ticker: 3808
Primary ISIN: HK3808041546 Primary SEDOL: B296ZH4
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Sinotruk (Hong Kong) Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Final Dividend Mgmt For For
3A Elect Wang Bozhi as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3B Elect Kong Xiangquan as Director Mgmt For For
3C Elect Liu Wei as Director Mgmt For For
3D Elect Liu Peimin as Director Mgmt For For
3E Elect Chen Zheng as Director Mgmt For For
3F Elect Wang Dengfeng as Director Mgmt For For
3G Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5 Approve Supplemental Agreement to the 2018 Mgmt For For Products Purchase Agreement and the Relevant Revised CCT Cap
6 Approve Supplemental Agreement to the 2018 Mgmt For For Parts Purchase Agreement and the Relevant Revised CCT Cap
7 Approve the Transactions under the 2021 Mgmt For Against Financial Services Agreement and the Supplemental Agreements to the 2021 Financial Services Agreement and the Respective Annual Caps for the Three Years Ending 31 December 2021
Voter Rationale: A vote AGAINST this proposal is warranted because the proposed related-party transactions include a financial service agreement with the group finance company, which may expose the company to unnecessary risks.
8 Approve the Transactions under the 2021 Mgmt For For Products Sales Agreement and the Respective Annual Caps for the Three Years Ending 31 December 2021
9 Approve the Transactions under the 2021 Parts Mgmt For For Sales Agreement and the Respective Annual Caps for the Three Years Ending 31 December 2021
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Sinotruk (Hong Kong) Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Approve the Transactions under the 2021 Mgmt For For Products Purchase Agreement and the Respective Annual Caps for the Three Years Ending 31 December 2021
11 Approve the Transactions under the 2021 Parts Mgmt For For Purchase Agreement and the Respective Annual Caps for the Three Years Ending 31 December 2021
SJM Holdings Ltd.
Meeting Date: 06/12/2018 Country: Hong Kong Meeting Type: Annual Ticker: 880
Primary ISIN: HK0880043028 Primary SEDOL: B2NR3Y6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Shum Hong Kuen, David as Director Mgmt For For
3.2 Elect Shek Lai Him, Abraham as Director Mgmt For Against
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
3.3 Elect Tse Hau Yin as Director Mgmt For For
4 Elect Chan Un Chan as Director Mgmt For For
5 Authorize Board to Fix Remuneration of Mgmt For For Directors Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
6 Approve Deloitte Touche Tohmatsu as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
7 Approve Grant of Options Under the Share Mgmt For Against Option Scheme Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. In addition, Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. In addition, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
8 Authorize Repurchase of Issued Share Capital Mgmt For For
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SMI Holdings Group Ltd.
Meeting Date: 05/31/2018 Country: Bermuda Meeting Type: Annual Ticker: 198
Primary ISIN: BMG8229F1150 Primary SEDOL: BF333G7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2.1 Elect Wai Yee Tai as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
2.2 Elect Yang Rongbing as Director Mgmt For For
2.3 Elect Pan Jen Kai as Director Mgmt For For
2.4 Elect Cheng Chi Chung as Director Mgmt For For
2.5 Elect Kong Dalu as Director Mgmt For For
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2.6 Elect Hung Ka Hai Clement as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. In addition, directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Further, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.7 Elect Pang Hong as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Further, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.8 Elect Li Fusheng as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2.9 Elect Wong Shui Yeung as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
2.10 Authorize Board to Fix Remuneration of Mgmt For For Directors
3 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
4 Authorize Repurchase of Issued Share Capital Mgmt For For
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SMI Holdings Group Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Sociedad Quimica y Minera de Chile S.A. SQM
Meeting Date: 04/27/2018 Country: Chile Meeting Type: Annual/Special Ticker: SQM
Primary ISIN: CLP8716X1082 Primary SEDOL: 2718301
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Appoint Auditors, Account Inspectors and Risk Mgmt For Against Assessment Companies Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
3 Approve Report Regarding Related-Party Mgmt For For Transactions
4 Approve Investment and Financing Policy Mgmt For For
5 Approve Allocation of Income, Dividends and Mgmt For For Dividend Policy
6 Approve Report on Board's Expenses Mgmt For For
Vote for Item 7.a or Item 7.b only; If You Vote Mgmt for Both Items 7.a and 7.b then the Ballot on this Resolution will not Count
7.a Elect Directors Mgmt For Abstain
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.b Elect Laurence Golborne Riveros as Director Mgmt For For Representing Series B Shareholders
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Sociedad Quimica y Minera de Chile S.A. SQM
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8 Approve Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
9 Receive Matters Related to Directors' Mgmt For For Committee, Audit Committee, Corporate Governance Committee and Health, Safety and Environmental Committee
10 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
Special Meeting Mgmt
1 Amend Articles 27 SH None For
2 Amend Article 27 bis SH None For
3 Amend Article 28 SH None For
4 Amend Article 29 SH None For
5 Amend Article 36 SH None For
6 Amend Article 36 bis SH None For
7 Amend Article 41 SH None For
8 Amend Title of Current Transitory Article SH None Against Transitory; Add Transitory Article 2 Voter Rationale: Shareholder proponents should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
9 Adopt All Necessary Agreements to Execute SH None For Approved Resolutions
Sociedad Quimica y Minera de Chile S.A. SQM
Meeting Date: 05/17/2018 Country: Chile Meeting Type: Special Ticker: SQM
Primary ISIN: CLP8716X1082 Primary SEDOL: 2718301
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Shareholder Proposals Submitted by Sociedad Mgmt de Inversiones Pampa Calichera SA and Potasios de Chile SA
Page 310 of 367
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Sociedad Quimica y Minera de Chile S.A. SQM
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Amend Article 27 SH None For
Voter Rationale: A vote for this amendment is warranted because: the company provided the details of the bylaw amendments; the proposed changes appear to be mostly administrative in nature and neutral to shareholder rights; and the company's board has issued an opinion stating that the proposed changes contribute to the company's corporate interest, therefore, supporting the amendments.
2 Amend Article 28 SH None For
Voter Rationale: A vote for this amendment is warranted because: the company provided the details of the bylaw amendments; the proposed changes appear to be mostly administrative in nature and neutral to shareholder rights; and the company's board has issued an opinion stating that the proposed changes contribute to the company's corporate interest, therefore, supporting the amendments.
3 Amend Article 29 SH None For
Voter Rationale: A vote for this amendment is warranted because: the company provided the details of the bylaw amendments; the proposed changes appear to be mostly administrative in nature and neutral to shareholder rights; and the company's board has issued an opinion stating that the proposed changes contribute to the company's corporate interest, therefore, supporting the amendments.
4 Amend Article 36 SH None For
Voter Rationale: A vote for this amendment is warranted because: the company provided the details of the bylaw amendments; the proposed changes appear to be mostly administrative in nature and neutral to shareholder rights; and the company's board has issued an opinion stating that the proposed changes contribute to the company's corporate interest, therefore, supporting the amendments.
5 Amend Article 36 bis SH None For
Voter Rationale: A vote for this amendment is warranted because: the company provided the details of the bylaw amendments; the proposed changes appear to be mostly administrative in nature and neutral to shareholder rights; and the company's board has issued an opinion stating that the proposed changes contribute to the company's corporate interest, therefore, supporting the amendments.
6 Amend Article 41 SH None For
Voter Rationale: A vote for this amendment is warranted because: the company provided the details of the bylaw amendments; the proposed changes appear to be mostly administrative in nature and neutral to shareholder rights; and the company's board has issued an opinion stating that the proposed changes contribute to the company's corporate interest, therefore, supporting the amendments.
7 Amend Title of Current Transitory Article; Add SH None Against Transitory Article 2 Voter Rationale: The proponent shareholders have failed to provide a compelling rational for the proposed amendment.
8 Adopt All Necessary Agreements to Execute SH None For Approved Resolutions
Sohu.com Inc.
Meeting Date: 05/29/2018 Country: USA Meeting Type: Special Ticker: SOHU
Primary ISIN: US83408W1036 Primary SEDOL: 2608123
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Sohu.com Inc.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Plan of Liquidation and Subsequent Mgmt For Against Change in Domicile Voter Rationale: A vote AGAINST this proposal is warranted as the proposed reincorporation would, on balance, have an adverse impact on shareholder rights. Further, the company's change to foreign private issuer status would reduce the company's reporting and disclosure obligations, thus reducing the level and amount of information provided to shareholders.
2 Adjourn Meeting Mgmt For Against
Voter Rationale: A vote AGAINST this proposal is warranted given that approval for Item 1 is not warranted.
St. Shine Optical Co., Ltd.
Meeting Date: 06/14/2018 Country: Taiwan Meeting Type: Annual Ticker: 1565
Primary ISIN: TW0001565000 Primary SEDOL: 6673172
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
2 Approve Profit Distribution Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS, Mgmt INDEPENDENT DIRECTORS AND SUPERVISORS VIA CUMULATIVE VOTING
3.1 Elect ZHOU YU RAN, with Shareholder No. 12, Mgmt For For as Non-Independent Director
3.2 Elect CHEN MING XIAN, Representative of Yun Mgmt For For Ming Investment Co., Ltd., with Shareholder No. 0012864, as Non-Independent Director
3.3 Elect CHEN QI DA, with Shareholder No. 6, as Mgmt For For Non-Independent Director
3.4 Elect CHU YING JIE, with Shareholder No. 15, Mgmt For For as Non-Independent Director
3.5 Elect WANG HUI ZHONG, with ID No. Mgmt For Against A210091XXX, as Independent Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3.6 Elect XIE WEN YU, with ID No. N103218XXX, as Mgmt For For Independent Director
3.7 Elect LIAO RU YANG, with ID No. H101768XXX, Mgmt For For as Independent Director
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St. Shine Optical Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.8 Elect CHEN JIN LONG, with Shareholder No. 53, Mgmt For For as Supervisor
3.9 Elect HE CHUN BO, with Shareholder No. 127, Mgmt For For as Supervisor
3.10 Elect ZHOU ZHI LONG, with ID No. Mgmt For For E121255XXX, as Supervisor
4 Approve Release of Restrictions on Competitive Mgmt For For Activities of Appointed Directors and Representatives
Standard Bank Group Ltd
Meeting Date: 05/24/2018 Country: South Africa Meeting Type: Annual Ticker: SBK
Primary ISIN: ZAE000109815 Primary SEDOL: B030GJ7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports for the Year Ended 31 December 2017
2.1 Re-elect Thulani Gcabashe as Director Mgmt For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.2 Elect Hao Hu as Director Mgmt For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.3 Re-elect Kgomotso Moroka as Director Mgmt For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
2.4 Re-elect Atedo Peterside as Director Mgmt For For
2.5 Re-elect Peter Sullivan as Director Mgmt For For
2.6 Elect Lubin Wang as Director Mgmt For Against
Voter Rationale: For widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. Also, the nomination committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 313 of 367
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Standard Bank Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3.1 Reappoint KPMG Inc as Auditors of the Mgmt For For Company Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
3.2 Reappoint PricewaterhouseCoopers Inc as Mgmt For For Auditors of the Company Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
4 Place Authorised but Unissued Ordinary Shares Mgmt For For under Control of Directors
5 Place Authorised but Unissued Non-redeemable Mgmt For For Preference Shares under Control of Directors
6.1 Approve Remuneration Policy Mgmt For For
6.2 Approve Remuneration Implementation Report Mgmt For For
7.1 Approve Fees of Chairman Mgmt For For
7.2 Approve Fees of Director Mgmt For For
7.3 Approve Fees of International Director Mgmt For For
7.4.1 Approve Fees of Group Directors' Affairs Mgmt For For Committee Member
7.5.1 Approve Fees of Group Risk and Capital Mgmt For For Management Committee Chairman
7.5.2 Approve Fees of Group Risk and Capital Mgmt For For Management Committee Member
7.6.1 Approve Fees of Group Remuneration Mgmt For For Committee Chairman
7.6.2 Approve Fees of Group Remuneration Mgmt For For Committee Member
7.7.1 Approve Fees of Group Social and Ethics Mgmt For For Committee Chairman
7.7.2 Approve Fees of Group Social and Ethics Mgmt For For Committee Member
7.8.1 Approve Fees of Group Audit Committee Mgmt For For Chairman
7.8.2 Approve Fees of Group Audit Committee Mgmt For For Member
7.9.1 Approve Fees of Group Technology and Mgmt For For Information Committee Chairman
7.9.2 Approve Fees of Group Technology and Mgmt For For Information Committee Member
7.10a Approve Fees of Group Model Approval Mgmt For For Committee Chairman
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Standard Bank Group Ltd
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7.10b Approve Fees of Group Model Approval Mgmt For For Committee Member
7.11 Approve Fees of Ad hoc Meeting Attendance Mgmt For For
8 Authorise Repurchase of Issued Ordinary Share Mgmt For For Capital
9 Authorise Repurchase of Issued Preference Mgmt For For Share Capital
10 Approve Financial Assistance in Terms of Mgmt For For Section 45 of the Companies Act
Sun Art Retail Group Ltd.
Meeting Date: 05/09/2018 Country: Hong Kong Meeting Type: Annual Ticker: 6808
Primary ISIN: HK0000083920 Primary SEDOL: B3MPN59
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Benoit, Claude, Francois, Marie, Joseph Mgmt For For Leclercq as Director
3b Elect Xavier, Marie, Alain Delom de Mezerac as Mgmt For Against Director Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
3c Elect Ludovic, Frédéric, Pierre Holinier as as Mgmt For For Director
3d Elect Zhang Yong as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Moreover, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3e Elect Chen Jun as Director Mgmt For For
3f Approve Remuneration of Directors and Mgmt For For Supervisors
4 Approve KPMG as Auditors and Authorize Board Mgmt For For to Fix Their Remuneration
5 Authorize Repurchase of Issued Share Capital Mgmt For For
Page 315 of 367
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Sun Art Retail Group Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Sunny Optical Technology Group Co., Ltd.
Meeting Date: 05/29/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 2382
Primary ISIN: KYG8586D1097 Primary SEDOL: B1YBT08
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Ye Liaoning as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3b Elect Wang Wenjie as Director Mgmt For For
3c Elect Feng Hua Jun as Director Mgmt For For
3d Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as External Mgmt For For Auditor and Authorize Board to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
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Sunny Optical Technology Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Ye Liaoning as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3b Elect Wang Wenjie as Director Mgmt For For
3c Elect Feng Hua Jun as Director Mgmt For For
3d Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as External Mgmt For For Auditor and Authorize Board to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company. Proposal supported based on a client instruction.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For For
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock. Proposal supported based on a client instruction.
Surgutneftegaz
Meeting Date: 06/29/2018 Country: Russia Meeting Type: Annual Ticker: SNGS
Primary ISIN: RU0008926258 Primary SEDOL: B5BHQP1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Annual Report Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
Page 317 of 367
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Surgutneftegaz
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
3 Approve Allocation of Income and Dividends Mgmt For For
4 Approve Remuneration of Directors Mgmt
5 Approve Remuneration of Members of Audit Mgmt For For Commission
Elect Nine Directors by Cumulative Voting Mgmt
6.1 Elect Vladimir Bogdanov as Director Mgmt
6.2 Elect Aleksandr Bulanov as Director Mgmt None For
6.3 Elect Ivan Dinichenko as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6.4 Elect Valery Egorov as Director Mgmt None For
6.5 Elect Vladimir Erokhin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
6.6 Elect Viktor Krivosheev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
6.7 Elect Nikolay Matveev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
6.8 Elect Georgy Mukhamadeev as Director Mgmt None For
6.9 Elect Vladimir Raritsky as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
6.10 Elect Ildus Usmanov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
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Surgutneftegaz
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
6.11 Elect Vladimir Shashkov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the CEO and independent non-executive directors. In widely held companies, the board should include at least 50% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
Elect Three Members of Audit Commission Mgmt
7.1 Elect Valentina Musikhina as Member of Audit Mgmt For For Commission
7.2 Elect Tamara Oleynik as Member of Audit Mgmt For For Commission
7.3 Elect Lyudmila Prishchepova as Member of Audit Mgmt For For Commission
8 Ratify Auditor Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
9 Approve Related-Party Transaction Re: Liability Mgmt For For Insurance for Directors and Officials
10 Approve New Edition of Charter Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 Amend Regulations on General Meetings Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
12 Amend Regulations on Board of Directors Mgmt
13 Amend Regulations on Audit Commission Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Suzano Papel e Celulose S.A.
Meeting Date: 04/26/2018 Country: Brazil Meeting Type: Annual Ticker: SUZB3
Primary ISIN: BRSUZBACNOR0 Primary SEDOL: B02GKC7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Management Statements for Fiscal Year Mgmt For For Ended Dec. 31, 2017
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Suzano Papel e Celulose S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
3 Approve Allocation of Income and Dividends Mgmt For For
4 Approve Remuneration of Company's Mgmt For Against Management Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480
5.1 Elect David Feffer as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
5.2 Elect Claudio Thomaz Lobo Sonder as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
5.3 Elect Daniel Feffer as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.4 Elect Jorge Feffer as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.5 Elect Antonio de Souza Correa Meyer as Mgmt For Against Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
5.6 Elect Maria Priscila Rodini Vansetti Machado as Mgmt For For Director
5.7 Elect Nildemar Secches as Director Mgmt For For
5.8 Elect Rodrigo Kede de Freitas Lima as Director Mgmt For For
5.9 Elect Marco Antonio Bologna as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6 In Case Cumulative Voting Is Adopted, Do You Mgmt None Abstain Wish to Equally Distribute Your Votes for Each Supported Nominee? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
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Suzano Papel e Celulose S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
APPLICABLE ONLY IF CUMULATIVE VOTING IS Mgmt ADOPTED - If You Vote FOR on Item 6, Votes Will Be Automatically Distributed in Equal % Amongst Candidates You Chose. If You Vote AGST, Contact Your Client Service Rep to Disproportionately Allocate % of Votes
7.1 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain David Feffer as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.2 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Claudio Thomaz Lobo Sonder as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.3 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Daniel Feffer as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.4 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Jorge Feffer as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.5 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Antonio de Souza Correa Meyer as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.6 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Maria Priscila Rodini Vansetti Machado as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.7 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Nildemar Secches as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.8 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Rodrigo Kede de Freitas Lima as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7.9 Percentage of Votes to Be Assigned - Elect Mgmt None Abstain Marco Antonio Bologna as Director Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8.1 Elect Luiz Augusto Marques Paes as Fiscal Mgmt For Do Not Vote Council Member and Roberto Figueiredo Mello as Alternate Voter Rationale: An abstain vote is recommended for management nominee Luiz Augusto Marques Paes, due to his consecutive 14 terms as a fiscal council member and a potential for excessive commitments.
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Suzano Papel e Celulose S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
8.2 Elect Rubens Barletta as Fiscal Council Member Mgmt For For and Luiz Gonzaga Ramos Schubert as Alternate
8.3 Elect Eraldo Soares Pecanha as Fiscal Council SH None For Member and Kurt Janos Toth as Alternate Appointed by Minority Shareholder
8.4 Elect Vitor Paulo Camargo Goncalves as Fiscal SH None For Council Member and Beatriz Pereira Carneiro Cunha as Alternate Appointed by Minority Shareholder
9 Do You Wish to Adopt Cumulative Voting for the Mgmt None Abstain Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law? Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
10 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 As an Ordinary Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Fiscal Council, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
TaiMed Biologics Inc
Meeting Date: 06/06/2018 Country: Taiwan Meeting Type: Annual Ticker: 4147
Primary ISIN: TW0004147004 Primary SEDOL: B3PSSB6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Statement of Profit and Loss Mgmt For For Appropriation
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Taiwan Semiconductor Manufacturing Co., Ltd.
Meeting Date: 06/05/2018 Country: Taiwan Meeting Type: Annual Ticker: 2330
Primary ISIN: TW0002330008 Primary SEDOL: 6889106
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
3 Approve Amendments to Articles of Association Mgmt For For
ELECT NON-INDEPENDENT DIRECTOR AND Mgmt INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING
4.1 Elect F.C. Tseng with Shareholder No. 104 as Mgmt For For Non-Independent Director
4.2 Elect Mei-ling Chen , a Representative of Mgmt For Against National Development Fund, Executive Yuan with Shareholder No. 1, as Non-Independent Director Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
4.3 Elect Mark Liu with Shareholder No. 10758 as Mgmt For For Non-Independent Director Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Furthermore, we encourage the board take action to refresh its composition by appointing new independent non-executive directors.
4.4 Elect C.C. Wei with Shareholder No. 370885 as Mgmt For For Non-Independent Director
4.5 Elect Sir Peter L. Bonfield with ID No. Mgmt For For 504512XXX as Independent Director
4.6 Elect Stan Shih with Shareholder No. 534770 as Mgmt For For Independent Director
4.7 Elect Thomas J. Engibous with ID No. Mgmt For For 515274XXX as Independent Director
4.8 Elect Kok-Choo Chen with ID No. A210358XXX Mgmt For For as Independent Director
4.9 Elect Michael R. Splinter with ID No. 488601XXX Mgmt For For as Independent Director
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Taiwan Semiconductor Manufacturing Co., Ltd.
Meeting Date: 06/05/2018 Country: Taiwan Meeting Type: Annual Ticker: 2330
Primary ISIN: TW0002330008 Primary SEDOL: 6889106
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Business Operations Report and Mgmt For For Financial Statements
2 Approve Profit Distribution Mgmt For For
3 Approve Amendments to Articles of Association Mgmt For For
ELECT NON-INDEPENDENT DIRECTOR AND Mgmt INDEPENDENT DIRECTOR VIA CUMULATIVE VOTING
4.1 Elect F.C. Tseng with Shareholder No. 104 as Mgmt For For Non-Independent Director
4.2 Elect Mei-ling Chen , a Representative of Mgmt For Withhold National Development Fund, Executive Yuan with Shareholder No. 1, as Non-Independent Director
4.3 Elect Mark Liu with Shareholder No. 10758 as Mgmt For For Non-Independent Director
4.4 Elect C.C. Wei with Shareholder No. 370885 as Mgmt For For Non-Independent Director
4.5 Elect Sir Peter L. Bonfield with ID No. Mgmt For For 504512XXX as Independent Director
4.6 Elect Stan Shih with Shareholder No. 534770 as Mgmt For For Independent Director
4.7 Elect Thomas J. Engibous with ID No. Mgmt For For 515274XXX as Independent Director
4.8 Elect Kok-Choo Chen with ID No. A210358XXX Mgmt For For as Independent Director
4.9 Elect Michael R. Splinter with ID No. 488601XXX Mgmt For For as Independent Director
Tata Consultancy Services Ltd.
Meeting Date: 05/26/2018 Country: India Meeting Type: Special Ticker: TCS
Primary ISIN: INE467B01029 Primary SEDOL: B01NPJ1
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Tata Consultancy Services Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Approve Issuance of Bonus Shares Mgmt For For
Tata Consultancy Services Ltd.
Meeting Date: 06/15/2018 Country: India Meeting Type: Annual Ticker: TCS
Primary ISIN: INE467B01029 Primary SEDOL: B01NPJ1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Confirm Interim Dividend and Declare Final Mgmt For For Dividend
3 Elect N. Chandrasekaran as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. In addition, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. Moreover, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
4 Approve B S R & Co. LLP Chartered Accountants Mgmt For For as Auditors and Authorize Board to Fix Their Remuneration
5 Elect Aarthi Subramanian as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
6 Elect Pradeep Kumar Khosla as Director Mgmt For For
7 Approve Branch Auditors and Authorize Board to Mgmt For For Fix Their Remuneration
Tatneft PJSC
Meeting Date: 06/22/2018 Country: Russia Meeting Type: Annual Ticker: TATN
Primary ISIN: RU0009033591 Primary SEDOL: B59BXN2
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Tatneft PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
1 Approve Annual Report Mgmt For For
2 Approve Financial Statements Mgmt For For
3 Approve Allocation of Income and Dividends Mgmt For For
Elect 14 Directors by Cumulative Voting Mgmt
4.1 Elect Radik Gaizatullin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.2 Elect Laslo Gerech as Director Mgmt None For
4.3 Elect Nail Ibragimov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.4 Elect Yuri Levin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance. In addition the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
4.5 Elect Nail Maganov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.6 Elect Renat Muslimov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.7 Elect Rafail Nurmukhametov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
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Tatneft PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4.8 Elect Rinat Sabirov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.9 Elect Valery Sorokin as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.10 Elect Shafagat Takhautdinov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.11 Elect Rustam Khalimov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.12 Elect Azat Khamaev as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.13 Elect Rais Khisamov as Director Mgmt None Against
Voter Rationale: Given the cumulative voting process, we cast our votes in support of the independent non-executive directors. In controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. We expect all our investee companies to comply with the Russian Code of Corporate Governance (2014) or clearly explain the rationale behind non-compliance.
4.14 Elect Rene Steiner as Director Mgmt None For
Elect Eight Members of Audit Commission Mgmt
5.1 Elect Kseniya Borzunova as Member of Audit Mgmt For For Commission
5.2 Elect Ranilya Gizatova as Member of Audit Mgmt For For Commission
5.3 Elect Gusel Gilfanova as Member of Audit Mgmt For For Commission
5.4 Elect Zalyaev Salavat as Member of Audit Mgmt For For Commission
5.5 Elect Venera Kuzmina as Member of Audit Mgmt For For Commission
5.6 Elect Liliya Rakhimzyanova as Member of Audit Mgmt For For Commission
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Tatneft PJSC
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.7 Elect Nazilya Farkhutdinova as Member of Audit Mgmt For For Commission
5.8 Elect Ravil Sharifullin as Member of Audit Mgmt For For Commission
6 Ratify Auditor Mgmt For For
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Techtronic Industries Co., Ltd.
Meeting Date: 05/18/2018 Country: Hong Kong Meeting Type: Annual Ticker: 669
Primary ISIN: HK0669013440 Primary SEDOL: B0190C7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Stephan Horst Pudwill as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3b Elect Frank Chi Chung Chan as Director Mgmt For For
3c Elect Roy Chi Ping Chung as Director Mgmt For For
3d Elect Christopher Patrick Langley as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
3e Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve Deloitte Touche Tohmatsu as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
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Techtronic Industries Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Tenaga Nasional Berhad
Meeting Date: 05/15/2018 Country: Malaysia Meeting Type: Annual Ticker: TENAGA
Primary ISIN: MYL5347OO009 Primary SEDOL: 6904612
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Abd Manaf bin Hashim as Director Mgmt For For
2 Elect Sakthivel Alagappan as Director Mgmt For For
3 Elect Gee Siew Yoong as Director Mgmt For For
4 Elect Noraini binti Che Dan as Director Mgmt For For
5 Approve Directors' Fees Mgmt For For
6 Approve Directors' Benefits Mgmt For For
7 Approve PricewaterhouseCoopers PLT as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
8 Authorize Share Repurchase Program Mgmt For For
TENARIS SA
Meeting Date: 05/02/2018 Country: Luxembourg Meeting Type: Annual/Special Ticker: TEN
Primary ISIN: LU0156801721 Primary SEDOL: 7538515
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Agenda Mgmt
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TENARIS SA
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Receive and Approve Board's and Auditor's Mgmt For For Reports Re: Consolidated Financial Statements and Statutory Reports Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities. Likewise, companies should develop and disclose a policy aimed at encouraging greater diversity, including gender, at the board and executive management levels, and throughout the organisation.
2 Approve Consolidated Financial Statements and Mgmt For For Statutory Reports
3 Approve Financial Statements Mgmt For For
4 Approve Allocation of Income and Dividends Mgmt For For
5 Approve Discharge of Directors Mgmt For For
6 Elect Directors (Bundled) Mgmt For Against
Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
7 Approve Remuneration of Directors Mgmt For For
8 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
9 Allow Electronic Distribution of Company Mgmt For For Documents to Shareholders
Special Meeting Agenda Mgmt
1 Amend Article 11 Re: Audit Committee Mgmt For For
2 Amend Article 15 Re: Date and Place of Annual Mgmt For For General Meeting
Tencent Holdings Ltd.
Meeting Date: 05/16/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 700
Primary ISIN: KYG875721634 Primary SEDOL: BMMV2K8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
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Tencent Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3a Elect Li Dong Sheng as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties
3b Elect Iain Ferguson Bruce as Director Mgmt For For
3c Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
6 Authorize Repurchase of Issued Share Capital Mgmt For For
7 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Thai Oil Public Company Limited
Meeting Date: 04/11/2018 Country: Thailand Meeting Type: Annual Ticker: TOP
Primary ISIN: TH0796010005 Primary SEDOL: B0300P1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Acknowledge 2017 Operating Results and Mgmt For For Approve Financial Statements
2 Approve Dividend Payment Mgmt For For
3 Approve Remuneration of Directors Mgmt For Against
Voter Rationale: Variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.
4 Approve KPMG Phoomchai Audit Ltd. as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
5.1 Elect Thosaporn Sirisumphand as Director Mgmt For For
5.2 Elect Atikom Terbsiri as Director Mgmt For For
5.3 Elect Chularat Suteethorn as Director Mgmt For For
5.4 Elect Pasu Decharin as Director Mgmt For For
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Thai Oil Public Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5.5 Elect Suchalee Sumamal as Director Mgmt For For
5.6 Elect Auttapol Rerkpiboon as Director Mgmt For For
6 Amend Articles of Association Mgmt For For
7 Other Business Mgmt For Against
Voter Rationale: Any Other Business should not be a voting item.
The People's Insurance Company (Group) Of China Ltd.
Meeting Date: 04/19/2018 Country: China Meeting Type: Special Ticker: 1339
Primary ISIN: CNE100001MK7 Primary SEDOL: B8RZJZ1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Miao Jianmin as Director Mgmt For For
2 Elect Xie Yiqun as Director Mgmt For For
3 Elect Tang Zhigang as Director Mgmt For For
4 Elect Wang Qingjian as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
5 Elect Xiao Xuefeng as Director Mgmt For For
6 Elect Hua Rixin as Director Mgmt For For
7 Elect Cheng Yuqin as Director Mgmt For For
8 Elect Wang Zhibin as Director Mgmt For For
9 Elect Shiu Sin Por as Director Mgmt For For
10 Elect Ko Wing Man as Director Mgmt For For
11 Elect Luk Kin Yu, Peter as Director Mgmt For Against
Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.
12 Elect Lin Yixiang as Director Mgmt For For
13 Elect Chen Wuzhao as Director Mgmt For For
14 Elect Lin Fan as Supervisor Mgmt For For
15 Elect Xu Yongxian as Supervisor Mgmt For For
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The People's Insurance Company (Group) Of China Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
16 Elect Jing Xin as Supervisor Mgmt For For
17 Approve Proposed Authorization to Deal With Mgmt For For Matters of Purchase of Liability Insurance in Respect of the A Share Prospectus
18 Approve Profit Distribution Plan for 2017 SH For For
The People's Insurance Company (Group) Of China Ltd.
Meeting Date: 06/22/2018 Country: China Meeting Type: Annual Ticker: 1339
Primary ISIN: CNE100001MK7 Primary SEDOL: B8RZJZ1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ORDINARY RESOLUTIONS Mgmt
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Report of the Board of Mgmt For For Supervisors Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 Final Financial Accounts Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve Engagement of Auditor for 2018 Mgmt For For Financial Statements
SPECIAL RESOLUTIONS Mgmt
1 Approve Extension of Validity Period of the A Mgmt For For Share Offering Plan
2 Approve Extension of Authorization to Deal With Mgmt For For Matters Relating to the A Share Offering
3 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
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TIM Participacoes S.A.
Meeting Date: 04/19/2018 Country: Brazil Meeting Type: Annual/Special Ticker: TIMP3
Primary ISIN: BRTIMPACNOR1 Primary SEDOL: 2292560
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income and Dividends Mgmt For For
3 Ratify Election of Mario Di Mauro as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
4 Ratify Election of Joao Cox Neto as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate
5 Ratify Election of Celso Luis Loducca as Director Mgmt For For
6 Ratify Election of Piergiorgio Peluso as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
7 Elect Agostino Nuzzolo as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
8 Elect Raimondo Zizza as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
9 Elect Giovanni Ferigo as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
10 Fix Number of Fiscal Council Members Mgmt For For
11 Elect Fiscal Council Members Mgmt For For
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TIM Participacoes S.A.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
12 In Case One of the Nominees Leaves the Fiscal Mgmt None Against Council Slate Due to a Separate Minority Election, as Allowed Under Articles 161 and 240 of the Brazilian Corporate Law, May Your Votes Still Be Counted for the Proposed Slate?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
13 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Members Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
Special Meeting Mgmt
1 Approve Prolonging of Cooperation and Support Mgmt For For Agreement between Telecom Italia S.p.A and TIM Celular S.A. and Intelig Telecomunicacoes Ltda
2 Approve Long-Term Incentive Plan Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time. Furthermore, on early termination, all share-based awards should be time pro-rated and tested for performance, including in the event of a change of control.
Tingyi (Cayman Islands) Holding Corp.
Meeting Date: 04/26/2018 Country: Cayman Islands Meeting Type: Special Ticker: 322
Primary ISIN: KYG8878S1030 Primary SEDOL: 6903556
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Adopt Share Option Scheme Mgmt For Against
Voter Rationale: Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable. Furthermore, incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
Tingyi (Cayman Islands) Holding Corp.
Meeting Date: 06/04/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 322
Primary ISIN: KYG8878S1030 Primary SEDOL: 6903556
Page 335 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Tingyi (Cayman Islands) Holding Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3 Elect Wei Hong-Ming as Director and Authorize Mgmt For For Board to Fix His Remuneration Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties. In addition, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
4 Elect Koji Shinohara as Director and Authorize Mgmt For For Board to Fix His Remuneration
5 Elect Lin Chin-Tang as Director and Authorize Mgmt For For Board to Fix His Remuneration
6 Elect Lee Tiong-Hock as Director and Authorize Mgmt For For Board to Fix His Remuneration
7 Approve Mazars CPA Limited as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
8 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9 Authorize Repurchase of Issued Share Capital Mgmt For For
10 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
TravelSky Technology Limited
Meeting Date: 06/28/2018 Country: China Meeting Type: Annual Ticker: 696
Primary ISIN: CNE1000004J3 Primary SEDOL: 6321954
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
Page 336 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
TravelSky Technology Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2 Approve 2017 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 Audited Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2017 Allocation of Profit and Mgmt For For Distribution of Final Dividend
5 Approve BDO Limited as International Auditors Mgmt For For and BDO China Shu Lun Pan Certified Public Accountants LLP as PRC Auditors and to Authorize Board to Fix Their Remuneration
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for H Shares and Domestic Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Repurchase of Issued H Share Capital Mgmt For For
8 Approve Amendments to Articles of Association Mgmt For For
TravelSky Technology Limited
Meeting Date: 06/28/2018 Country: China Meeting Type: Special Ticker: 696
Primary ISIN: CNE1000004J3 Primary SEDOL: 6321954
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
CLASS MEETING FOR HOLDERS OF H SHARES Mgmt
1 Authorize Repurchase of Issued H Share Capital Mgmt For For
Tsingtao Brewery Co., Ltd.
Meeting Date: 06/28/2018 Country: China Meeting Type: Annual Ticker: 168
Primary ISIN: CNE0000009Y3 Primary SEDOL: 6902854
Page 337 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Tsingtao Brewery Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Work Report of the Board of Mgmt For For Directors
2 Approve 2017 Report of the Board of Mgmt For For Supervisors
3 Approve 2017 Audited Financial Report Mgmt For For
4 Approve 2016 Profit and Dividend Distribution Mgmt For For Proposal
5 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as Auditor and Authorize Board to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
6 Approve PricewaterhouseCoopers Zhong Tian Mgmt For For LLP as Internal Control Auditor and Authorize Board to Fix Their Remuneration
APPROVE THE RESOLUTION FOR THE Mgmt ELECTION OF NEW SESSION OF THE BOARD OF THE COMPANY
7.1 Elect Huang Ke Xing as Director SH None For
7.2 Elect Fan Wei as Director SH None For
7.3 Elect Yu Zhu Ming as Director SH None For
7.4 Elect Wang Rui Yong as Director SH None For
7.5 Elect Tang Bin as Director SH None For
7.6 Elect Yu Zeng Biao as Director SH None For
7.7 Elect Ben Sheng Lin as Director SH None For
7.8 Elect Jiang Min as Director SH None For
7.9 Elect Jiang Xing Lu as Director SH None For
APPROVE THE RESOLUTION FOR THE Mgmt ELECTION OF NEW SESSION OF THE BOARD OF SUPERVISORS THE COMPANY
8.1 Elect Li Gang as Supervisor SH None For
8.2 Elect Yao Yu as Supervisor SH None For
8.3 Elect Li Yan as Supervisor SH None For
8.4 Elect Wang Ya Ping as Supervisor SH None For
9 Approve Remuneration of Directors and SH None For Supervisors
Page 338 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Tsingtao Brewery Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Approve Purchase of Liability Insurance for SH None For Directors, Supervisors and Senior Management of the Company
11 Amend Articles of Association and Approve Mgmt For Against Authorization of the Secretary to the Board to Deal With All Procedural Requirements Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
Tullow Oil plc
Meeting Date: 04/25/2018 Country: United Kingdom Meeting Type: Annual Ticker: TLW
Primary ISIN: GB0001500809 Primary SEDOL: 0150080
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Remuneration Report Mgmt For Against
3 Re-elect Tutu Agyare as Director Mgmt For For
4 Re-elect Michael Daly as Director Mgmt For For
5 Re-elect Aidan Heavey as Director Mgmt For For
6 Re-elect Steve Lucas as Director Mgmt For For
7 Re-elect Angus McCoss as Director Mgmt For For
8 Re-elect Paul McDade as Director Mgmt For For
9 Re-elect Jeremy Wilson as Director Mgmt For Against
10 Elect Les Wood as Director Mgmt For For
11 Reappoint Deloitte LLP as Auditors Mgmt For For
12 Authorise the Audit Committee to Fix Mgmt For For Remuneration of Auditors
13 Authorise Issue of Equity with Pre-emptive Mgmt For For Rights
14 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights
15 Authorise the Company to Call General Meeting Mgmt For For with Two Weeks' Notice
16 Authorise Market Purchase of Ordinary Shares Mgmt For For
Page 339 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Turk Hava Yollari A.O.
Meeting Date: 05/04/2018 Country: Turkey Meeting Type: Annual Ticker: THYAO
Primary ISIN: TRATHYAO91M5 Primary SEDOL: B03MYK0
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Accept Board Report Mgmt For For
3 Accept Audit Report Mgmt For For
4 Accept Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
5 Approve Discharge of Board Mgmt For For
6 Approve Allocation of Income Mgmt For For
7 Approve Director Remuneration Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
8 Ratify External Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
9 Receive Information on the Guarantees, Mgmt Pledges, and Mortgages Provided by the Company to Third Parties
10 Approve Upper Limit of Donations for 2018 and Mgmt For Against Receive Information on Donations Made in 2017
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 Wishes Mgmt
Turk Telekomunikasyon AS
Meeting Date: 05/28/2018 Country: Turkey Meeting Type: Annual Ticker: TTKOM
Primary ISIN: TRETTLK00013 Primary SEDOL: B2RCGV5
Page 340 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Turk Telekomunikasyon AS
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postponed Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Authorize Presiding Council to Sign Minutes of Mgmt For For Meeting
3 Receive Board Report Mgmt
4 Receive Audit Report Mgmt
5 Accept Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
6 Approve Discharge of Board Mgmt For For
7 Approve Director Remuneration Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
8 Approve Internal Auditor Remuneration Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors' fees to enable shareholders to cast an informed vote.
9 Approve Allocation of Income Mgmt For For
10 Ratify External Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
11 Receive Information on Donations Made in 2017 Mgmt
12 Receive Information on the Guarantees, Mgmt Pledges, and Mortgages Provided by the Company to Third Parties
13 Receive Information in Accordance to Article Mgmt 1.3.1 of Capital Market Board Corporate Governance Principles
14 Receive Information in Accordance to Article Mgmt 1.3.6 of Capital Market Board Corporate Governance Principles
15 Receive Information on Remuneration Policy Mgmt
16 Receive Information on Company Disclosure Mgmt Policy
17 Authorize Board to Acquire Businesses up to a Mgmt For For EUR 500 Million Value
18 Authorize Board to Establish New Companies in Mgmt For For Relation to Business Acquired
Page 341 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Turk Telekomunikasyon AS
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
19 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
20 Wishes Mgmt
UEM Sunrise Berhad
Meeting Date: 05/31/2018 Country: Malaysia Meeting Type: Annual Ticker: UEMS
Primary ISIN: MYL5148OO001 Primary SEDOL: B3FKMY3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Ordinary Resolutions Mgmt
1 Approve Final Dividend Mgmt For For
2 Elect Lim Tian Huat as Director Mgmt For For
3 Elect Zamzamzairani Mohd Isa as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity. Moreover, for companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
4 Elect Azmil Khalili Dato' Khalid as Director Mgmt For For
5 Elect Teh Ija Mohd Jalil as Director Mgmt For For
6 Approve Remuneration of Directors from Mgmt For For January 1, 2018 Until the Next AGM
7 Approve Directors' Benefits (Excluding Directors' Mgmt For For Fees) to Non-Executive Chairman and Non-Executive Directors from June 1, 2018 Until the Next AGM
8 Approve Directors' Benefits (Excluding Directors' Mgmt For For Fees) to Non-Executive Chairman from June 1, 2018 Until the Next AGM
9 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
10 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
Page 342 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
UEM Sunrise Berhad
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
11 Approve Implementation of Shareholders' Mgmt For Against Mandate for Recurrent Related Party Transactions Voter Rationale: A vote against this resolution is warranted given an independent director of the company is deemed to have material interest in the transactions to be carried out under the mandate.
Special Resolution Mgmt
1 Adopt New Constitution Mgmt For For
Ulker Biskuvi Sanayi A.S.
Meeting Date: 06/05/2018 Country: Turkey Meeting Type: Annual Ticker: ULKER
Primary ISIN: TREULKR00015 Primary SEDOL: B03MYX3
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Open Meeting and Elect Presiding Council of Mgmt For For Meeting
2 Authorize Presiding Council to Sign Minutes of Mgmt For For Meeting
3 Accept Board Report Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Furthermore, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
4 Accept Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Furthermore, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
5 Accept Audit Report Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account. Furthermore, the company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
6 Approve Discharge of Board Mgmt For For
7 Amend Article 7 Re: Capital Related Mgmt For For
8 Approve Allocation of Income Mgmt For For
9 Ratify External Auditors Mgmt For Against
Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
Page 343 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Ulker Biskuvi Sanayi A.S.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Approve Upper Limit of Donations for 2018 and Mgmt For Against Receive Information on Donations Made in 2017
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 Receive Information on Guarantees, Pledges Mgmt and Mortgages Provided by the Company to Third Parties
12 Receive Information on Related Party Mgmt Transactions
13 Grant Permission for Board Members to Engage Mgmt For For in Commercial Transactions with Company and Be Involved with Companies with Similar Corporate Purpose
14 Wishes Mgmt
Unifin Financiera S.A.B. de C.V. SOFOM E.N.R.
Meeting Date: 04/25/2018 Country: Mexico Meeting Type: Annual Ticker: UNIFIN A
Primary ISIN: MX00UN000002 Primary SEDOL: BXVM276
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.a Approve CEO and Auditors' Report on Financial Mgmt For For Statements and Statutory Reports and Board's Opinion on CEO's Report
1.b Approve Board's Report on Accounting Criteria Mgmt For For Policy and Disclosure Policy in Accordance with Article 172-B of Company Law
1.c Approve Report on Activities and Operations Mgmt For For Undertaken by Board in Accordance with Article 28 IV (E) of Company Law
1.d Approve Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
1.e Approve Audit and Corporate Practices Mgmt For For Committee's Report on Their Activities in Accordance with Article 43 of Company Law
1.f Approve Report on Compliance with Fiscal Mgmt For For Obligations
2.a Approve Increase in Legal Reserves Mgmt For For
Page 344 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Unifin Financiera S.A.B. de C.V. SOFOM E.N.R.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
2.b Approve Allocation of Income and Dividends Mgmt For For
3 Set Maximum Amount of Share Repurchase Mgmt For For Program; Approve Share Repurchase Report
4.a Elect or Ratify Directors; Verify Independence Mgmt For Against Classification of Board Members Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. Furthermore, the board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
4.b Elect or Ratify Chairman and Members of Audit Mgmt For Against and Corporate Practices Committee Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. Furthermore, the board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
4.c Elect Secretary and Deputy Secretary and Fix Mgmt For Against Remuneration Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote. Furthermore, the board should submit directors for re-election individually, rather than as a single slate and ensure that there is sufficient level of independence on the board.
5 Authorize Cancellation of Repurchased Shares Mgmt For For and Consequently Reduction in Share Capital
6 Approve Financing Plan Mgmt For Against
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
7 Appoint Legal Representatives Mgmt For For
Uni-President China Holdings Ltd.
Meeting Date: 05/18/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 220
Primary ISIN: KYG9222R1065 Primary SEDOL: B29MKF5
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Su Tsung-Ming as Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 345 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Uni-President China Holdings Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3b Elect Chen Johnny as Director Mgmt For Against
Voter Rationale: Directors are expected to hold only a small number of directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.
3c Elect Chen Sun-Te as Director Mgmt For For
4 Authorize Board to Fix the Remuneration of Mgmt For For Directors
5 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Repurchase of Issued Share Capital Mgmt For For
8 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Uni-President Enterprises Corp.
Meeting Date: 06/20/2018 Country: Taiwan Meeting Type: Annual Ticker: 1216
Primary ISIN: TW0001216000 Primary SEDOL: 6700393
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Plan on Profit Distribution Mgmt For For
3 Amend Procedures for Lending Funds to Other Mgmt For Against Parties Voter Rationale: A vote against is warranted because the proposed increase in external lending cap may expose the company to unnecessary risks. In addition, the company has failed to provide a compelling rationale for such changes.
4 Approve Release of Restrictions of Competitive Mgmt For For Activities of Appointed Directors
Page 346 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
United Spirits Limited
Meeting Date: 06/03/2018 Country: India Meeting Type: Special Ticker: UNITDSPR
Primary ISIN: INE854D01016 Primary SEDOL: 6576992
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Postal Ballot Mgmt
1 Amend Memorandum of Association Mgmt For For
2 Amend Articles of Association Mgmt For For
3 Approve Sub-Division of Shares Mgmt For For
Usinas Siderurgicas De Minas Gerais S.A. - USIMINAS
Meeting Date: 04/25/2018 Country: Brazil Meeting Type: Annual Ticker: USIM5
Primary ISIN: BRUSIMACNPA6 Primary SEDOL: 2386009
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting For Preferred Holders Mgmt
1 As a Preferred Shareholder, Would You like to Mgmt None Abstain Request a Separate Minority Election of a Member of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
2 Elect Paulo Roberto Evangelista de Lima as SH None For Director and Guilherme Silva Roman as Alternate Appointed by Preferred Shareholder
3 In Case Neither Class of Shares Reaches the Mgmt None For Minimum Quorum Required by the Brazilian Corporate Law to Elect a Board Representative in Separate Elections, Would You Like to Use Your Votes to Elect the Candidate with More Votes to Represent Both Classes?
Voter Rationale: A vote FOR this proposal is warranted because the combination of two classes of shares for the purposes of establishing a separate election for a minority board representative increases the likelihood of having minority representation at the board level.
Page 347 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Usinas Siderurgicas De Minas Gerais S.A. - USIMINAS
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Elect Aloisio Macario Ferreira de Souza as Fiscal SH None For Council Member and Luiz Fernando Sachet as Alternate Appointed by Preferred Shareholder
Vale S.A.
Meeting Date: 04/13/2018 Country: Brazil Meeting Type: Annual/Special Ticker: VALE3
Primary ISIN: BRVALEACNOR0 Primary SEDOL: 2196286
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Annual Meeting Agenda Mgmt
1 Accept Financial Statements and Statutory Mgmt For For Reports for Fiscal Year Ended Dec. 31, 2017 Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Allocation of Income, Capital Budget Mgmt For For and Dividends
3 Ratify Election of Ney Roberto Ottoni de Brito as Mgmt For Against Director Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Furthermore, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.
4 Elect Fiscal Council Members and Alternates Mgmt For For
5 Approve Remuneration of Company's Mgmt For Against Management and Fiscal Council Members Voter Rationale: We urge the board to take immediate steps to provide shareholders with the information referred to in item 13 of the Reference Form in CVM Instruction 480.
6 Ratify Remuneration of Company's Management Mgmt For Against and Fiscal Council Members for Fiscal Year 2017
Voter Rationale: Companies should provide sufficient information at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
Special Meeting Agenda Mgmt
1 Amend Articles and Consolidate Bylaws Mgmt For For
Page 348 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Vincom Retail Joint Stock Company
Meeting Date: 06/07/2018 Country: Vietnam Meeting Type: Annual Ticker: VRE
Primary ISIN: VN000000VRE6 Primary SEDOL: BZ0WW59
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Report of Board of Directors Mgmt For For
2 Approve Report of Management on 2017 Mgmt For For Business Performance and 2018 Business Plan
3 Approve Report of Supervisory Board on Mgmt For For Business Performance and Activities of Directors and Supervisors
4 Approve 2017 Audited Financial Statements Mgmt For For
5 Approve 2017 Income Allocation Mgmt For For
6 Approve Additional Business Line Mgmt For For
7 Amend Articles of Association Mgmt For For
8 Ratify Auditors for 2018 Financial Year Mgmt For For
9 Approve Election of Directors for Term from Mgmt For For 2018 to 2023
10 Elect Directors Mgmt For Against
Voter Rationale: Companies should provide sufficient information on directors standing for election at least 21 days in advance of the meeting to enable shareholders to cast an informed vote.
11 Other Business Mgmt For Against
Voter Rationale: Any Other Business' should not be a voting item.
Walsin Lihwa Corp of Taiwan
Meeting Date: 05/25/2018 Country: Taiwan Meeting Type: Annual Ticker: 1605
Primary ISIN: TW0001605004 Primary SEDOL: 6936574
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Report and Financial Mgmt For For Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
Page 349 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Walsin Lihwa Corp of Taiwan
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
3 Amend Articles of Association Mgmt For For
4 Amend Procedures for Lending Funds to Other Mgmt For Against Parties and Procedures for Endorsement and Guarantees Voter Rationale: The proposal is not in the interests of minority shareholders.
APPROVE RELEASE OF RESTRICTIONS OF Mgmt COMPETITIVE ACTIVITIES OF DIRECTORS
5.1 Approve Release of Restrictions of Competitive Mgmt For For Activities of CHENG,HUI-MING
5.2 Approve Release of Restrictions of Competitive Mgmt For For Activities of MA,WEI-SHIN
5.3 Approve Release of Restrictions of Competitive Mgmt For For Activities of Chen, Steve Ruey-Long
Weichai Power Co., Ltd.
Meeting Date: 06/14/2018 Country: China Meeting Type: Annual Ticker: 2338
Primary ISIN: CNE1000004L9 Primary SEDOL: 6743956
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Approve 2017 Annual Report Mgmt For For
2 Approve 2017 Report of the Board of Directors Mgmt For For
3 Approve 2017 Report of the Supervisory Mgmt For For Committee
4 Approve 2017 Audited Financial Statements and Mgmt For For Auditors' Report
5 Approve 2017 Final Financial Report Mgmt For For
6 Approve 2018 Financial Budget Report Mgmt For For
7 Approve Profit Distribution Mgmt For For
8 Approve Ernst & Young Hua Ming LLP as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration
9 Approve Shangdong Hexin Accountants LLP as Mgmt For For Internal Control Auditors
Page 350 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Weichai Power Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10 Approve Interim Dividend Mgmt For For
11 Amend Articles of Association Mgmt For For
12 Amend Rules and Procedures Regarding Board Mgmt For For Meetings
13 Amend Rules of Procedure for General Meetings Mgmt For For
14 Approve Grant of Guarantee by the Company Mgmt For For for the Benefit of Weichai Power (Hong Kong) International Development Cp., Ltd. in Respect of a Loan
15 Approve Provision for Assets Impairment Mgmt For For
ELECT SUPERVISORS VIA CUMULATIVE VOTING Mgmt
16a Elect Lu Wenwu as Supervisor Mgmt For For
16b Elect Wu Hongwei as Supervisor Mgmt For For
ELECT NON-INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
17a Elect Tan Xuguang as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. In addition, the roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and preserving accountability.
17b Elect Wang Yuepu as Director Mgmt For For
17c Elect Jiang Kui as Director Mgmt For For
17d Elect Zhang Quan as Director Mgmt For For
17e Elect Xu Xinyu as Director Mgmt For For
17f Elect Sun Shaojun as Director Mgmt For For
17g Elect Yuan Hongming as Director Mgmt For For
17h Elect Yan Jianbo as Director Mgmt For For
17i Elect Gordon Riske as Director Mgmt For For
17j Elect Michael Martin Macht as Director Mgmt For For
ELECT INDEPENDENT DIRECTORS VIA Mgmt CUMULATIVE VOTING
18a Elect Zhang Zhong as Director Mgmt For For
18b Elect Wang Gongyong as Director Mgmt For For
18c Elect Ning Xiangdong as Director Mgmt For For
18d Elect Li Hongwu as Director Mgmt For For
18e Elect Wen Daocai as Director Mgmt For For
Page 351 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Westports Holdings Berhad
Meeting Date: 04/24/2018 Country: Malaysia Meeting Type: Annual Ticker: WPRTS
Primary ISIN: MYL5246OO003 Primary SEDOL: BDFM1K8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ORDINARY RESOLUTIONS Mgmt
1 Approve Remuneration of Directors Mgmt For For
2 Elect Ruben Emir Gnanalingam bin Abdullah as Mgmt For For Director
3 Elect Yusli bin Mohamed Yusoff as Director Mgmt For For
4 Elect Ruth Sin Ling Tsim as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, the board should include at least 50% independent directors to ensure appropriate balance of independence and objectivity.
5 Elect Shanthi Kandiah as Director Mgmt For For
6 Elect Chan Soo Chee as Director Mgmt For For
7 Approve Deloitte PLT as Auditors and Authorize Mgmt For For Board to Fix Their Remuneration
8 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
SPECIAL RESOLUTION Mgmt
1 Adopt New Constitution Mgmt For For
Wistron Corp.
Meeting Date: 06/14/2018 Country: Taiwan Meeting Type: Annual Ticker: 3231
Primary ISIN: TW0003231007 Primary SEDOL: 6672481
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
Page 352 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Wistron Corp.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1.1 Elect Simon Lin, with Shareholder No. 2, as Mgmt For For Non-Independent Director Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. In addition, executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
1.2 Elect Robert Huang, with Shareholder No. 642, Mgmt For For as Non-Independent Director
1.3 Elect Hong-Po Hsieh, Representative of Wistron Mgmt For Against Neweb Corporation, with Shareholder No. 377529, as Non-Independent Director Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
1.4 Elect Philip Peng, with Shareholder No. 5, as Mgmt For For Non-Independent Director
1.5 Elect Jack Chen, with ID No. R102686XXX, as Mgmt For For Independent Director
1.6 Elect S. J. Paul Chien, with ID No. A120799XXX, Mgmt For For as Independent Director
1.7 Elect C.H. Chen, with ID No. C100101XXX, as Mgmt For For Independent Director
1.8 Elect Christopher Chang, with ID No. Mgmt For For Q100154XXX, as Independent Director
1.9 Elect Sam Lee, with ID No. K121025XXX, as Mgmt For For Independent Director
2 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
3 Approve Profit Distribution Mgmt For For
4 Approve the Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Approve Issuance of Ordinary Shares to Mgmt For For Participate in the Issuance of Global Depository Receipt
6 Amend Procedures Governing the Acquisition or Mgmt For For Disposal of Assets
7 Amend Procedures for Lending Funds to Other Mgmt For For Parties
8 Amend Procedures for Endorsement and Mgmt For For Guarantees
9 Approve Release of Restrictions on Competitive Mgmt For Against Activities of Newly Appointed Directors and Representatives Voter Rationale: A vote against is warranted because there is lack of disclosure on the pertinent details of the proposal.
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
X5 Retail Group NV
Meeting Date: 05/10/2018 Country: Netherlands Meeting Type: Annual Ticker: FIVE
Primary ISIN: US98387E2054 Primary SEDOL: B07T3T9
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for GDR Holders Mgmt
1 Open Meeting Mgmt
2 Receive Report of Management Board Mgmt (Non-Voting)
3 Discussion on Company's Corporate Governance Mgmt Structure
4.A Discuss Remuneration Report Mgmt
4.B Receive Explanation on Company's Dividend Mgmt Policy
4.C Adopt Financial Statements and Statutory Mgmt For For Reports
4.D Approve Dividends of RUB 79.5 per Share Mgmt For For
5 Approve Discharge of Management Board Mgmt For For
6 Approve Discharge of Supervisory Board Mgmt For For
7 Amend Remuneration Policy Mgmt For Against
Voter Rationale: Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a sufficiently long period of time.
8 Approve Remuneration of Supervisory Board Mgmt For Against
Voter Rationale: A vote against is warranted because of the excessiveness on the remuneration of the supervisory board regarding this remuneration proposal;
9 Grant Board Authority to Issue Shares Up to 10 Mgmt For For Percent of Issued Capital
10 Authorize Board to Exclude Preemptive Rights Mgmt For For from Share Issuances
11 Authorize Repurchase of up to 10 Percent of Mgmt For For Issued Share Capital
12 Ratify Ernst & Young as Auditors Mgmt For For
13 Close Meeting Mgmt
Page 354 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Xinyi Glass Holdings Ltd.
Meeting Date: 06/01/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 868
Primary ISIN: KYG9828G1082 Primary SEDOL: B05NXN7
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3A1 Elect Lee Shing Kan as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3A2 Elect Li Ching Wai as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3A3 Elect Ng Ngan Ho as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.
3A4 Elect Wong Ying Wai as Director Mgmt For For
3A5 Elect Tran Chuen Wah, John as Director Mgmt For For
3B Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditors Mgmt For For and Authorize Board to Fix Their Remuneration
5A Authorize Repurchase of Issued Share Capital Mgmt For For
5B Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
5C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Yageo Corp
Meeting Date: 06/05/2018 Country: Taiwan Meeting Type: Annual Ticker: 2327
Primary ISIN: TW0002327004 Primary SEDOL: 6984380
Page 355 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Yageo Corp
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Financial Statements Mgmt For For
Voter Rationale: The company should move towards a three-committee structure (audit, remuneration and nomination) in line with regional best practice, with independent board committees that report annually on their activities.
2 Approve Plan on Profit Distribution Mgmt For For
3 Approve Cash Distribution from Capital Reserve Mgmt For For
4 Approve Issuance of New Shares by Mgmt For For Capitalization of Profit
5 Approve Amendments to Rules and Procedures Mgmt For For Regarding Shareholder's General Meeting
6 Approve Amendments to Articles of Association Mgmt For For
7 Approve Amendments to Procedures Governing Mgmt For For the Acquisition or Disposal of Assets
8 Amend Procedures for Lending Funds to Other Mgmt For For Parties and Procedures for Endorsement and Guarantees
9 Approve Amendment to Rules and Procedures Mgmt For For for Election of Directors
ELECT NON-INDEPENDENT DIRECTORS AND Mgmt INDEPENDENT DIRECTORS VIA CUMULATIVE VOTING
10.1 Elect Tie-Min Chen with Shareholder No. 2, as Mgmt For For Non-independent Director Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
10.2 Elect Lai-Fu Lin, a Representative of Hsu Chang Mgmt For For Investment Ltd. with Shareholder No. 00099108, as Non-independent Director
10.3 Elect Shih-Chien Yang, a Representative of Hsu Mgmt For Against Chang Investment Ltd. with Shareholder No. 00099108, as Non-independent Director Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
10.4 Elect Chi-Wen Chang, a Representative of Hsu Mgmt For For Chang Investment Ltd. with Shareholder No. 00099108, as Non-independent Director
10.5 Elect Pao-Yuan Wang, a Representative of Hsu Mgmt For Against Chang Investment Ltd. with Shareholder No. 00099108, as Non-independent Director Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
Page 356 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Yageo Corp
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
10.6 Elect Victor C. Wang, a Representative of Hsu Mgmt For Against Chang Investment Ltd. with Shareholder No.00099108, as Non-independent Director Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
10.7 Elect Jerry Lee with Shareholder No. Mgmt For Against A110406XXX as Independent Director Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
10.8 Elect Tun-Son Lin with Shareholder No. Mgmt For For AC00636XXX as Independent Director
10.9 Elect Hilo Chen with Shareholder No. Mgmt For Against F120677XXX as Independent Director Voter Rationale: Companies should provide biographical information for all directors - incumbent and new - through the nomination system to enable shareholders to cast an informed vote.
11 Approve Release of Restrictions of Competitive Mgmt For Against Activities of Directors and Representatives
Voter Rationale: Companies should clearly disclose the business benefits cross directorships will bring, or how conflicts of interest or competition concerns will be managed if these directors engage in business activities with competitors.
Yandex NV
Meeting Date: 06/28/2018 Country: Netherlands Meeting Type: Annual Ticker: YNDX
Primary ISIN: NL0009805522 Primary SEDOL: BMSK1G8
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Annual Meeting Agenda Mgmt
1 Approve to Extend the Period for Preparing the Mgmt For For Annual Account for the Financial Year 2017
2 Adopt Financial Statements and Statutory Mgmt For For Reports
3 Approve Discharge of Directors Mgmt For For
Page 357 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Yandex NV
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Reelect John Boynton as Non-Executive Director Mgmt For Against
Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness. In addition, the board should appoint a Lead Independent Director to establish appropriate checks and balances on the Board, support the Chairman, ensure an orderly succession process for the Chairman, and act as a point of contact for shareholders, non-executive directors and senior executives where normal channels of communication through the board Chairman are considered inappropriate.
5 Reelect Esther Dyson as Non-Executive Director Mgmt For For
6 Elect Ilya A. Strebulaev as Non-Executive Mgmt For For Director
7 Approve Cancellation of Outstanding Class C Mgmt For For Shares
8 Ratify KPMG as Auditors Mgmt For For
9 Grant Board Authority to Issue Ordinary and Mgmt For Against Preference Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company. In addition, the proposal is not in the interests of minority shareholders.
10 Authorize Board to Exclude Preemptive Rights Mgmt For Against from Share Issuances Under Item 9 Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company. In addition, the proposal is not in the interests of minority shareholders.
11 Authorize Repurchase of Up to 20 Percent of Mgmt For Against Issued Share Capital Voter Rationale: Any share repurchase request in excess of 10% should be undertaken in exceptional circumstances only and be fully justified by the company.
Yes Bank Limited
Meeting Date: 06/12/2018 Country: India Meeting Type: Annual Ticker: N/A
Primary ISIN: INE528G01027 Primary SEDOL: BF0GLF4
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Dividend Mgmt For For
3 Reelect Ajai Kumar as Director Mgmt For Against
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders. In addition, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
Page 358 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Yes Bank Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve B S R & Co. LLP., Chartered Mgmt For For Accountants as Auditors and Authorize Board to Fix Their Remuneration Voter Rationale: Fees paid to the auditor should be disclosed and specify any non-audit work undertaken by the auditor.
5 Elect Subhash Chander Kalia as Director Mgmt For For
6 Elect Rentala Chandrashekhar as Director Mgmt For For
7 Elect Pramita Sheorey as Director Mgmt For For
8 Approve Reappointment and Remuneration of Mgmt For For Rana Kapoor as Managing Director and CEO
9 Approve Increase in Borrowing Powers Mgmt For For
10 Approve Issuance of Non-Convertible Mgmt For For Debentures on Private Placement Basis
11 Approve Issuance of Equity or Equity-Linked Mgmt For For Securities without Preemptive Rights
12 Approve Grant of Options to the Employees of Mgmt For For the Company Under the YBL ESOS - 2018
13 Approve Extension of Benefits of YBL ESOS - Mgmt For For 2018 to Current and Future Employees of Subsidiary Companies
YPF Sociedad Anonima
Meeting Date: 04/27/2018 Country: Argentina Meeting Type: Annual/Special Ticker: YPFD
Primary ISIN: ARP9897X1319 Primary SEDOL: 2983035
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
Meeting for ADR Holders Mgmt
Ordinary and Extraordinary Meeting Agenda - Mgmt Items 2 and 18 are Extraordinary
1 Designate Two Shareholders to Sign Minutes of Mgmt For For Meeting
2 Approve Exemption from Preemptive Offer of Mgmt For For Shares to Shareholders Pursuant to Article 67 of Law No. 26,831 in Relation to Repurchase of Company's Shares Related to Creation of Long Term Compensation Plan
3 Consider Financial Statements and Statutory Mgmt For For Reports
Page 359 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
YPF Sociedad Anonima
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
4 Approve Allocation of Income; Constitution of Mgmt For For Reserves; Dividend Distribution
5 Approve Remuneration of Auditors for FY 2017 Mgmt For For
6 Approve Auditors for FY 2018 and Fix Their Mgmt For For Remuneration
7 Consider Discharge of Directors and Members of Mgmt For For Internal Statutory Auditors Committee (Comision Fiscalizadora)
8 Approve Remuneration of Directors Mgmt For For
9 Approve Remuneration of Internal Statutory Mgmt For For Auditors Committee (Comision Fiscalizadora)
10 Fix Number of Members of Internal Statutory Mgmt For For Auditors Committee (Comision Fiscalizadora) and Alternates
11 Elect One Member of Internal Statutory Auditors Mgmt Committee (Comision Fiscalizadora) and Alternate for Class A Shares
12 Elect One Member of Internal Statutory Auditors Mgmt For For Committee (Comision Fiscalizadora) and Alternate for Class D Shares
13 Fix Number of Directors and Alternates Mgmt For For
14 Elect One Director and Alternate for Class A Mgmt Shares and Determination of their Tenure
15 Elect Directors and Their Alternates for Class D Mgmt For For Shares and Determination of their Tenure Voter Rationale: The board should submit directors for re-election individually, rather than as a single slate to enable shareholders to hold directors individually accountable for their performance.
16 Authorize Advance Remuneration of Directors Mgmt For For and Members of Internal Statutory Auditors Committee (Comision Fiscalizadora) for FY 2018
17 Extend Powers to Board to Set Terms and Mgmt For For Conditions of Negotiable Obligations Issued Under Global Program
18 Consider Proposal to Adjust Formula Used to Mgmt For For Allocate Funds to YPF Foundation
Yuanta Financial Holding Co Ltd.
Meeting Date: 06/15/2018 Country: Taiwan Meeting Type: Annual Ticker: 2885
Primary ISIN: TW0002885001 Primary SEDOL: 6424110
Page 360 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Yuanta Financial Holding Co Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve Business Operations Report and Mgmt For For Financial Statements Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve Profit Distribution Mgmt For For
3 Amend Articles of Association Mgmt For For
Yuexiu Property Company Limited
Meeting Date: 05/29/2018 Country: Hong Kong Meeting Type: Annual Ticker: 123
Primary ISIN: HK0123000694 Primary SEDOL: 6392422
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3.1 Elect Lin Zhaoyuan as Director Mgmt For For
3.2 Elect Li Feng as Director Mgmt For For
Voter Rationale: Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.
3.3 Elect Yu Lup Fat Joseph as Director Mgmt For Against
Voter Rationale: The board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity. Moreover, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness. Also, the remuneration committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Finally, the nomination committee should be majority independent and this director's membership could hamper the committee's impartiality and effectiveness.
3.4 Authorize Board to Fix Remuneration of Mgmt For For Directors
4 Approve PricewaterhouseCoopers as Auditor Mgmt For For and Authorize Board to Fix Their Remuneration
5A Authorize Repurchase of Issued Share Capital Mgmt For For
5B Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Page 361 of 367
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Yuexiu Property Company Limited
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
5C Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Yuzhou Properties Co. Ltd.
Meeting Date: 06/05/2018 Country: Cayman Islands Meeting Type: Annual Ticker: 1628
Primary ISIN: KYG9884T1013 Primary SEDOL: B51QBN1
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Accept Financial Statements and Statutory Mgmt For For Reports
2 Approve Final Dividend Mgmt For For
3a Elect Kwok Ying Lan as Director Mgmt For For
Voter Rationale: For companies without an independent chairman, a senior independent director should be appointed to serve as an additional safeguard and point of communication for shareholders.
3b Elect Lin Conghui as Director Mgmt For For
3c Elect Lam Kwong Siu as Director Mgmt For For
4 Authorize Board to Fix Remuneration of Mgmt For For Directors
5 Approve Ernst & Young as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration
6 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
7 Authorize Repurchase of Issued Share Capital Mgmt For For
8 Authorize Reissuance of Repurchased Shares Mgmt For Against
Voter Rationale: Treasury stock, when re-issued without pre-emption rights, should be subject to the same limitations as newly issued stock.
Zhejiang Expressway Co., Ltd.
Meeting Date: 04/02/2018 Country: China Meeting Type: Special Ticker: 576
Primary ISIN: CNE1000004S4 Primary SEDOL: 6990763
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Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Zhejiang Expressway Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Elect Yu Zhihong as Director Mgmt For For
2 Elect Yu Ji as Director Mgmt For For
3 Elect Yu Qunli as Director Mgmt For For
4 Elect Chen Bin as Director Mgmt For For
5 Authorize Board to Approve the Proposed Mgmt For For Directors' Service Contracts and Relevant Documents and Authorize Any One Executive Director to Sign Such Contracts and Relevant Documents
Zhejiang Expressway Co., Ltd.
Meeting Date: 06/29/2018 Country: China Meeting Type: Annual Ticker: 576
Primary ISIN: CNE1000004S4 Primary SEDOL: 6990763
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Directors Mgmt For For
2 Approve 2017 Report of the Supervisory Mgmt For For Committee
3 Approve 2017 Audited Financial Statements Mgmt For For
4 Approve 2017 Final Dividend Mgmt For For
5 Approve 2017 Final Accounts and 2018 Financial Mgmt For For Budget
6 Approve Deloitte Touche Tohmatsu Certified Mgmt For For Public Accountants Hong Kong as the Hong Kong Auditors and Authorize Board to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
7 Approve Pan China Certified Public Accountants Mgmt For For as the PRC Auditors and Authorize Board to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
Page 363 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Zhejiang Expressway Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
RESOLUTIONS IN RELATION TO THE ELECTION Mgmt OF DIRECTORS AND APPROVAL OF THEIR REMUNERATION AND ALLOWANCE PACKAGE
8.1a Elect Yu Zhihong as Director and Approve His Mgmt For For Remuneration and Allowance Package
8.1b Elect Cheng Tao as Director and Approve His Mgmt For For Remuneration and Allowance Package
8.1c Elect Luo Jianhu as Director and Approve Her Mgmt For For Remuneration and Allowance Package
8.1d Elect Dai Benmeng as Director and Approve His Mgmt For For Remuneration and Allowance Package
8.1e Elect Yu Qunli as Director and Approve His Mgmt For Against Remuneration and Allowance Package Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
8.1f Elect Yu Ji as Director and Approve His Mgmt For Against Remuneration and Allowance Package Voter Rationale: The audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.
8.2a Elect Pei Ker-Wei as Director and Approve His Mgmt For For Remuneration and Allowance Package
8.2b Elect Lee Wai Tsang, Rosa as Director and Mgmt For For Approve Her Remuneration and Allowance Package
8.2c Elect Chen Bin as Director and Approve His Mgmt For For Remuneration and Allowance Package
RESOLUTIONS IN RELATION TO THE ELECTION Mgmt OF SUPERVISORS AND APPROVAL OF THEIR ALLOWANCE PACKAGE
9.1 Elect Yao Huiliang as Supervisor and Approve Mgmt For For His Allowance Package
9.2a Elect He Meiyun as Supervisor and Approve Her Mgmt For For Allowance Package
9.2b Elect Wu Qingwang as Supervisor and Approve Mgmt For For His Allowance Package
10 Authorize Board to Approve the Proposed Mgmt For For Directors' Service Contracts, Proposed Supervisors' Service Contracts and Other Relevant Documents and Authorize Any One Executive Director to Sign Such Contracts and Relevant Documents
11 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for H Shares and Related Transactions Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
Page 364 of 367
The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Zhuzhou CRRC Times Electric Co., Ltd.
Meeting Date: 06/08/2018 Country: China Meeting Type: Annual Ticker: 3898
Primary ISIN: CNE1000004X4 Primary SEDOL: B1L3XL6
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
1 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
2 Approve 2017 Report of the Supervisory Mgmt For For Committee Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
3 Approve 2017 Audited Consolidated Financial Mgmt For For Statements and Auditor's Report Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
4 Approve 2017 Profit Distribution Plan and Final Mgmt For For Dividend
5 Approve Deloitte Touche Tohmatsu Hua Yong Mgmt For For Certified Public Accountants LLP as Auditor and Authorize Board to Fix Their Remuneration
6 Amend Articles of Association Regarding Party Mgmt For Against Committee Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
7 Approve Allowance Standard Adjustment Plan of Mgmt For For Directors and Supervisors
8 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights for Domestic Shares and/or H Shares Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
9 Amend Articles of Association Mgmt For Against
Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
Zijin Mining Group Co., Ltd.
Meeting Date: 05/17/2018 Country: China Meeting Type: Annual Ticker: 2899
Primary ISIN: CNE100000B24 Primary SEDOL: B2QZ4S8
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
Zijin Mining Group Co., Ltd.
Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction
AGM BALLOT FOR HOLDERS OF H SHARES Mgmt
1 Amend Articles of Association Regarding Party Mgmt For Against Committee Voter Rationale: Changes in company's articles or by-laws should not erode shareholder rights.
2 Approve Issuance of Equity or Equity-Linked Mgmt For Against Securities without Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.
3 Approve Issuance of Debt Financing Mgmt For For Instruments
4 Approve Provision of Guarantee to Overseas Mgmt For For Wholly-Owned Subsidiaries of the Company
5 Approve Provision of Counter-Guarantee for Mgmt For For 2018 Finance to Makeng Mining
6 Approve Provision of Guarantee to Wengfu Zijin Mgmt For For
7 Approve 2017 Report of the Board of Directors Mgmt For For
Voter Rationale: Shareholders should have the right to elect directors annually in order to hold them to account.
8 Approve 2017 Report of the Independent Mgmt For For Directors
9 Approve 2017 Report of Supervisory Committee Mgmt For For
10 Approve 2017 Financial Report Mgmt For For
11 Approve 2017 Annual Report and Its Summary Mgmt For For Report
12 Approve 2017 Profit Distribution Plan Mgmt For For
13 Approve Remuneration of Executive Directors Mgmt For For and Chairman of Supervisory Committee
14 Approve Ernst & Young Hua Ming (LLP) as Mgmt For For Auditor and Authorize Chairman of the Board of Directors, President and Financial Controller to Fix Their Remuneration Voter Rationale: Companies that have had the same auditor for a period of over 10 years should consider a plan or tender process for bringing in a new auditing firm.
15 Approve Change in Usage of a Portion of the Mgmt For For Proceeds Raised in the Non-public Issuance of A Shares in 2016
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The SEI Emerging Markets Equity Fund All Votes Report
Vote Summary Report Date range covered: 04/01/2018 to 06/30/2018
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